Prologis (NYSE:PLD) Cut to Underperform at BMO Capital Markets

BMO Capital Markets cut shares of Prologis (NYSE:PLD) from a market perform rating to an underperform rating in a research report report published on Friday, Marketbeat.com reports. The firm currently has $104.00 price target on the real estate investment trust’s stock, down from their prior price target of $120.00.

Other equities research analysts have also issued reports about the stock. Truist Financial lowered their price target on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday. Scotiabank decreased their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. Evercore ISI lifted their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average price target of $130.13.

Prologis Trading Down 1.6 %

Shares of NYSE PLD opened at $112.00 on Friday. The stock has a market capitalization of $103.73 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. 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 business has a fifty day moving average price of $117.57 and a 200 day moving average price of $118.93. Prologis has a 1-year low of $101.11 and a 1-year high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 EPS. Equities research analysts expect that Prologis will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

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

Institutional Investors Weigh In On Prologis

Institutional investors have recently modified their holdings of the company. CWM LLC grew its position in shares of Prologis by 11.5% during the second quarter. CWM LLC now owns 18,998 shares of the real estate investment trust’s stock worth $2,134,000 after acquiring an additional 1,952 shares during the last quarter. CX Institutional lifted its holdings in shares of Prologis by 3.3% in the second quarter. CX Institutional now owns 3,259 shares of the real estate investment trust’s stock valued at $366,000 after purchasing an additional 105 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Prologis in the second quarter worth $108,000. Czech National Bank raised its stake in Prologis by 8.5% in the 2nd quarter. Czech National Bank now owns 176,428 shares of the real estate investment trust’s stock valued at $19,815,000 after purchasing an additional 13,852 shares during the last quarter. Finally, InTrack Investment Management Inc lifted its stake in shares of Prologis by 41.0% during the second quarter. InTrack Investment Management Inc now owns 8,501 shares of the real estate investment trust’s stock valued at $955,000 after buying an additional 2,473 shares during the period. 93.50% of the stock is 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.