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

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

A number of equities research analysts have recently issued reports on the stock. Scotiabank reduced their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. Wolfe Research reduced their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Robert W. Baird lifted their price target on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada lifted their price objective on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Finally, Truist Financial lifted their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’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 sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of Prologis

Several institutional investors have recently made changes to their positions in PLD. Norges Bank purchased a new stake in shares of Prologis during the 4th quarter valued at $951,263,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after buying an additional 8,545,336 shares during the period. Northern Trust Corp grew its stake in shares of Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after buying an additional 4,893,284 shares during the period. Capital Research Global Investors boosted its position in Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock worth $1,304,922,000 after purchasing an additional 2,500,761 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Prologis during the 4th quarter worth $254,876,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD stock opened at $114.54 on Tuesday. The firm has a 50 day moving average of $117.05 and a 200-day moving average of $117.38. Prologis has a 12-month low of $100.82 and a 12-month high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $106.16 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.53%. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

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.