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

Prologis, Inc. (NYSE:PLD) has been given a consensus rating of “Moderate Buy” by the sixteen analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $130.13.

Several research firms have issued reports on PLD. Truist Financial decreased their price objective on shares of Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley upped their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Barclays lifted their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Scotiabank lowered their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st.

Prologis Trading Down 1.6 %

NYSE PLD opened at $112.00 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $103.73 billion, a P/E ratio of 33.84, a PEG ratio of 3.36 and a beta of 1.07. The firm’s 50-day moving average is $117.57 and its two-hundred day moving average is $118.86. Prologis has a 12 month low of $101.11 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Prologis will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.96 dividend. The ex-dividend date is Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.43%. Prologis’s dividend payout ratio is presently 116.01%.

Hedge Funds Weigh In On Prologis

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its stake in shares of Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after purchasing an additional 767,609 shares in the last quarter. Geode Capital Management LLC increased its position in Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after buying an additional 194,472 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after acquiring an additional 317,815 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Prologis by 1.4% in the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock valued at $1,377,588,000 after acquiring an additional 167,131 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after acquiring an additional 441,841 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.