Prologis, Inc. (NYSE:PLD) Stock Has Average Target Price of $154.05 According to Analysts

Shares of Prologis, Inc. (NYSE:PLD) have earned a consensus rating of “Moderate Buy” from the twenty-five research firms that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $154.05.

Several analysts recently weighed in on PLD shares. BMO Capital Markets reissued an “outperform” rating on shares of Prologis in a report on Friday, October 16th. Wells Fargo & Company reduced their price target on Prologis from $166.00 to $158.00 and set an “overweight” rating for the company in a research note on Monday, November 2nd. Weiss Ratings lowered Prologis from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, August 26th. Truist Financial lowered their price objective on Prologis from $162.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $149.00 price objective on shares of Prologis in a research report on Monday, November 2nd.

Hedge Funds Weigh In On Prologis

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Prologis in the 2nd quarter valued at about $14,006,587,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Prologis by 4.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,753,884 shares of the real estate investment trust’s stock worth $1,998,709,000 after purchasing an additional 618,467 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Prologis by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,565,453 shares of the real estate investment trust’s stock worth $1,528,636,000 after purchasing an additional 110,681 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Prologis during the second quarter worth approximately $1,473,965,000. Finally, Bank of America Corp DE bought a new position in shares of Prologis during the second quarter worth approximately $1,427,256,000. 93.50% of the stock is owned by institutional investors.

Prologis Stock Down 0.3%

Shares of PLD opened at $130.14 on Friday. Prologis has a 52 week low of $121.40 and a 52 week high of $153.35. The firm has a market cap of $123.70 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.27. The firm’s 50-day simple moving average is $131.20 and its 200 day simple moving average is $137.73. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.81 and a current ratio of 0.81.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were paid a $1.07 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. Prologis’s dividend payout ratio is 94.48%.

About Prologis

Prologis is a global logistics real estate company that owns, develops and operates warehouses, distribution centers and other facilities used to store and move goods. Its properties support customers in industries including retail, manufacturing, transportation and e-commerce. The company also provides property management and development services and invests in logistics real estate through investment management platforms. Its facilities are located in major markets across North America, Europe, Asia and Latin America.