Prologis (NYSE:PLD) had its target price boosted by Raymond James from $138.00 to $143.00 in a research report sent to investors on Wednesday morning, PriceTargets.com reports. The brokerage currently has a strong-buy rating on the real estate investment trust’s stock.
Other analysts also recently issued reports about the stock. Morgan Stanley increased their price objective on shares of Prologis from $120.00 to $131.00 and gave the company an overweight rating in a research report on Thursday, July 15th. Zacks Investment Research downgraded shares of Prologis from a buy rating to a hold rating and set a $122.00 price objective on the stock. in a research report on Wednesday, April 21st. Royal Bank of Canada raised their price target on shares of Prologis from $116.00 to $130.00 and gave the company an outperform rating in a report on Tuesday, June 1st. Robert W. Baird raised their price target on shares of Prologis from $108.00 to $124.00 and gave the company a neutral rating in a report on Tuesday. Finally, Wolfe Research assumed coverage on shares of Prologis in a report on Monday, June 14th. They set a peer perform rating and a $133.00 price target on the stock. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $125.21.
Shares of PLD stock opened at $126.90 on Wednesday. Prologis has a one year low of $93.08 and a one year high of $128.87. The company’s 50-day moving average price is $121.53. The stock has a market cap of $93.88 billion, a P/E ratio of 33.42, a price-to-earnings-growth ratio of 4.40 and a beta of 0.74. The company has a quick ratio of 0.59, a current ratio of 0.20 and a debt-to-equity ratio of 0.47.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Stockholders of record on Wednesday, June 16th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Tuesday, June 15th. Prologis’s dividend payout ratio (DPR) is presently 66.32%.
In other news, Director Lydia H. Kennard sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 27th. The shares were sold at an average price of $118.00, for a total value of $1,180,000.00. Following the transaction, the director now owns 32,773 shares in the company, valued at approximately $3,867,214. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M. Kulyk & Associates LLC raised its stake in Prologis by 4.5% during the 2nd quarter. M. Kulyk & Associates LLC now owns 40,393 shares of the real estate investment trust’s stock worth $4,828,000 after acquiring an additional 1,727 shares during the period. Raymond James Trust N.A. raised its stake in Prologis by 2.3% during the 2nd quarter. Raymond James Trust N.A. now owns 28,869 shares of the real estate investment trust’s stock worth $3,451,000 after acquiring an additional 662 shares during the period. Transform Wealth LLC raised its stake in Prologis by 77.3% during the 2nd quarter. Transform Wealth LLC now owns 8,906 shares of the real estate investment trust’s stock worth $1,065,000 after acquiring an additional 3,884 shares during the period. Stratos Wealth Partners LTD. raised its stake in Prologis by 1.8% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 6,956 shares of the real estate investment trust’s stock worth $831,000 after acquiring an additional 122 shares during the period. Finally, Manning & Napier Group LLC raised its stake in Prologis by 8.4% during the 2nd quarter. Manning & Napier Group LLC now owns 325,953 shares of the real estate investment trust’s stock worth $38,960,000 after acquiring an additional 25,330 shares during the period. Institutional investors own 92.44% of the company’s stock.
Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.
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