The Goldman Sachs Group Trims Prologis (NYSE:PLD) Target Price to $140.00

Prologis (NYSE:PLD) had its target price reduced by The Goldman Sachs Group from $163.00 to $140.00 in a report released on Monday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the real estate investment trust’s stock.

PLD has been the subject of several other research reports. Robert W. Baird raised their target price on Prologis from $133.00 to $137.00 and gave the stock a neutral rating in a research note on Tuesday, January 23rd. Royal Bank of Canada raised their target price on Prologis from $128.00 to $145.00 and gave the stock an outperform rating in a research note on Friday, February 16th. UBS Group cut their target price on Prologis from $151.00 to $138.00 and set a buy rating for the company in a research note on Thursday, April 18th. Barclays dropped their price objective on Prologis from $141.00 to $135.00 and set an overweight rating for the company in a research note on Wednesday, April 17th. Finally, Raymond James lifted their price objective on Prologis from $130.00 to $145.00 and gave the company a strong-buy rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $135.41.

Prologis Stock Performance

Shares of Prologis stock opened at $103.18 on Monday. Prologis has a one year low of $96.64 and a one year high of $137.52. The company has a market cap of $95.45 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. The business’s 50 day moving average price is $126.24 and its 200 day moving average price is $122.03.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.72%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio is 112.28%.

Institutional Trading of Prologis

Institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in shares of Prologis in the 4th quarter valued at about $27,000. Optimum Investment Advisors acquired a new position in Prologis in the 1st quarter valued at about $26,000. Thompson Investment Management Inc. acquired a new position in Prologis in the 4th quarter valued at about $28,000. JFS Wealth Advisors LLC increased its position in Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 168 shares during the period. Finally, Clear Investment Research LLC increased its position in Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 158 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.