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

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

Several other brokerages have also recently issued reports on PLD. Barclays dropped their target price on Prologis from $141.00 to $135.00 and set an overweight rating on the stock in a research report on Wednesday, April 17th. Evercore ISI lowered their price objective on Prologis from $136.00 to $123.00 and set an in-line rating on the stock in a research report on Thursday, April 18th. 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 report on Wednesday, January 24th. BMO Capital Markets cut Prologis from an outperform rating to a market perform rating and lowered their price objective for the company from $145.00 to $112.00 in a research report on Monday. Finally, Royal Bank of Canada lifted their price objective on Prologis from $128.00 to $145.00 and gave the company an outperform rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of Moderate Buy and a consensus target price of $135.41.

Prologis Trading Down 1.6 %

Shares of NYSE:PLD opened at $103.18 on Monday. The stock has a market capitalization 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 stock’s 50-day simple moving average is $126.24 and its two-hundred day simple moving average is $122.03. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis Increases Dividend

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

Institutional Trading of Prologis

A number of large investors have recently added to or reduced their stakes in PLD. Optimum Investment Advisors bought a new stake in Prologis in the 1st quarter worth approximately $26,000. True Wealth Design LLC bought a new stake in Prologis in the 4th quarter worth approximately $27,000. Thompson Investment Management Inc. bought a new stake in Prologis in the 4th quarter worth approximately $28,000. FinTrust Capital Advisors LLC increased its stake in Prologis by 966.7% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 232 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its stake 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 worth $31,000 after acquiring an additional 168 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

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.