Prologis, Inc. (NYSE:PLD) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Prologis, Inc. (NYSE:PLD) have received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $132.71.

A number of equities research analysts have recently weighed in on the company. Barclays cut their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. The Goldman Sachs Group boosted their price objective on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Argus raised their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Scotiabank lifted their price objective on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Prologis

Hedge funds have recently added to or reduced their stakes in the business. Veracity Capital LLC grew its position in shares of Prologis by 5.2% in the third quarter. Veracity Capital LLC now owns 2,461 shares of the real estate investment trust’s stock valued at $311,000 after purchasing an additional 121 shares during the last quarter. Wealth Alliance Advisory Group LLC boosted its position in shares of Prologis by 3.0% in the third quarter. Wealth Alliance Advisory Group LLC now owns 7,742 shares of the real estate investment trust’s stock valued at $978,000 after acquiring an additional 228 shares during the period. Embree Financial Group bought a new position in Prologis during the third quarter worth about $218,000. TriaGen Wealth Management LLC acquired a new stake in Prologis in the 3rd quarter worth about $3,510,000. Finally, Raymond James & Associates grew its position in shares of Prologis by 26.1% during the 3rd quarter. Raymond James & Associates now owns 1,271,730 shares of the real estate investment trust’s stock worth $160,594,000 after purchasing an additional 262,995 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

PLD opened at $122.50 on Friday. The business has a fifty day simple moving average of $125.43 and a 200-day simple moving average of $117.72. The firm has a market cap of $113.42 billion, a PE ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the business earned $1.30 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Prologis will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.13%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Prologis Company Profile

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.