Prologis, Inc. (NYSE:PLD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Prologis, Inc. (NYSE:PLD) have earned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $133.35.

A number of analysts recently commented on PLD shares. Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Barclays lifted their price objective on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Argus raised their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Bank of America reiterated a “neutral” rating and set a $128.00 price target on shares of Prologis in a research note on Monday, August 12th.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Optimum Investment Advisors acquired a new position in Prologis during the first quarter worth $26,000. American Capital Advisory LLC acquired a new position in shares of Prologis during the 2nd quarter worth about $26,000. True Wealth Design LLC purchased a new position in Prologis in the 4th quarter valued at about $27,000. Semmax Financial Advisors Inc. acquired a new stake in Prologis in the 2nd quarter worth about $27,000. Finally, Central Valley Advisors LLC acquired a new stake in Prologis in the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.9 %

NYSE PLD opened at $126.63 on Tuesday. Prologis has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a 50 day moving average price of $125.59 and a 200 day moving average price of $118.50. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The firm has a market cap of $117.24 billion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. During the same period in the previous year, the company posted $1.83 earnings per share. The business’s revenue for the quarter was down 18.1% on a year-over-year basis. As a group, sell-side analysts forecast that Prologis will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.96 per share. The ex-dividend date is Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.03%. Prologis’s dividend payout ratio is presently 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.