Prologis (NYSE:PLD) Price target reduced to $160.00


Prologis (NYSE: PLD – Get a Rating) saw its price target lowered by Raymond James from $190.00 to $160.00 in a report on Thursday, reports The Fly.

Other analysts have also published research reports on the company. BTIG Research raised its price target on Prologis from $161.00 to $193.00 and gave the company a Buy rating in a Tuesday, April 12 report. Jefferies Financial Group lowered its price target on Prologis from $174.00 to $146.00 and set a buy rating on the stock in a Thursday, June 30 report. Wells Fargo & Company lowered its price target on Prologis from $184.00 to $160.00 in a Monday, June 6 report. Barclays raised its price target on Prologis from $171.00 to $190.00 and gave the company an overweight rating in a Thursday, April 21 report. Finally, StockNews.com downgraded Prologis from a buy rating to a hold rating in a Wednesday, April 20 report. One equity research analyst gave the stock a hold rating, eight gave the stock a buy rating and two gave the stock a high buy rating. According to MarketBeat.com, the stock has a consensus buy rating and a consensus target price of $168.54.

Prologis stock Up to 1.0%

Shares of PLD opened at $126.90 on Thursday. The stock’s 50-day simple moving average is $120.83 and its 200-day simple moving average is $142.25. The company has a debt ratio of 0.46, a quick ratio of 1.59 and a current ratio of 0.15. Prologis has a 12-month low of $106.46 and a 12-month high of $174.54. The company has a market capitalization of $93.94 billion, a price/earnings ratio of 25.38, a PEG ratio of 2.52 and a beta of 0.85.

Prologis (NYSE:PLD – Get Rating) last released its quarterly earnings data on Monday, July 18. The real estate investment trust reported earnings per share of $0.82 for the quarter, missing consensus analyst estimates of $1.12 per ($0.30). Prologis achieved a net margin of 75.72% and a return on equity of 9.85%. The company posted revenue of $1.25 billion in the quarter, versus a consensus estimate of $1.09 billion. In the same period a year earlier, the company posted earnings per share of $1.01. The company’s revenue increased 8.8% year over year. As a group, research analysts predict that Prologis will post EPS of 5.17 for the current year.

Prologis dividend announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 30. Investors of record on Thursday, June 16 received a dividend of $0.79. This represents an annualized dividend of $3.16 and a yield of 2.49%. The ex-dividend date was Wednesday, June 15. Prologis’ payout rate is 63.20%.

Insider activity at Prologis

Separately, director Avid Modjtabai bought 15,000 shares of the company in a deal that took place on Friday, May 20. The shares were acquired at an average price of $118.65 per share, with a total value of $1,779,750.00. Following the purchase, the director now directly owns 15,000 shares of the company, valued at $1,779,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the shares are held by insiders.

Prologis institutional trading

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Prologis by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 97,672,838 shares of the real estate investment trust worth $15,772,211,000 after purchasing an additional 1,814,967 shares in the last quarter. BlackRock Inc. increased its position in Prologis by 5.7% in the 4th quarter. BlackRock Inc. now owns 77,044,162 shares of the real estate investment trust worth $12,971,155,000 after purchasing an additional 4,127,777 shares in the last quarter. State Street Corp increased its position in Prologis by 10.4% in the 1st quarter. State Street Corp now owns 51,717,111 shares of the real estate investment trust worth $8,351,279,000 after buying an additional 4,861,668 shares in the last quarter. Cohen & Steers Inc. increased its position in Prologis by 23.5% in the 1st quarter. Cohen & Steers Inc. now owns 18,488,000 shares of the real estate investment trust valued at $2,985,801,000 after purchasing 3,513,643 additional shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Prologis by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 13,702,145 shares of the real estate investment trust worth $2,300,903,000 after purchasing an additional 320,029 shares in the last quarter. Institutional investors and hedge funds hold 93.53% of the company’s shares.

Prologis company profile

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Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, the company owned or had investments in, wholly owned or through co-investments, properties and development projects expected to total approximately 984 million square feet (91 million square meters) in 19 countries.

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Richard L. Militello