Prologis (NYSE:PLD) Reaches New 1-Year Low – Time to Sell?

Prologis, Inc. (NYSE:PLD) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $100.82 and last traded at $102.36, with a volume of 2065779 shares trading hands. The stock had previously closed at $101.40.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PLD. JPMorgan Chase & Co. reduced their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Evercore ISI upped their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company raised their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $128.88.

Prologis Stock Performance

The company has a fifty day moving average price of $115.04 and a two-hundred day moving average price of $119.01. 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 company has a market capitalization of $95.69 billion, a P/E ratio of 31.21, a PEG ratio of 3.27 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) 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 net margin of 39.08% and a return on equity of 5.34%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share. Equities analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Monday, December 16th. Prologis’s payout ratio is presently 116.01%.

Hedge Funds Weigh In On Prologis

A number of hedge funds have recently made changes to their positions in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Prologis by 534.7% during the third 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 worth $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after acquiring an additional 2,138,693 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Prologis in the 2nd quarter worth about $203,223,000. AMF Tjanstepension AB lifted its stake in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Prologis by 326.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after purchasing an additional 1,358,542 shares in the last quarter. 93.50% of the stock is currently owned by 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.