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

Shares of Prologis, Inc. (NYSE:PLD) have received a consensus recommendation of “Moderate Buy” from the twenty research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eleven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $128.78.

A number of research analysts have commented on the company. Royal Bank of Canada upped their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Wolfe Research decreased their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Truist Financial boosted their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Prologis

Several hedge funds have recently modified their holdings of PLD. Empirical Asset Management LLC boosted its stake in shares of Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. raised its holdings in Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after buying an additional 25,266 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Prologis by 2.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after buying an additional 29,400 shares during the period. Worldquant Millennium Advisors LLC bought a new stake in Prologis during the 3rd quarter worth approximately $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Prologis during the 3rd quarter worth approximately $7,371,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 0.6 %

Shares of NYSE:PLD opened at $120.90 on Friday. The stock has a market cap of $112.05 billion, a PE ratio of 30.22, a P/E/G ratio of 2.71 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. Prologis has a 12-month low of $100.82 and a 12-month high of $135.76. The business has a 50 day moving average of $112.36 and a 200-day moving average of $118.01.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.34%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

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.