Prologis (NYSE:PLD) Upgraded to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Prologis (NYSE:PLD) from a neutral rating to an outperform rating in a research note released on Monday morning, Marketbeat.com reports. They currently have $123.00 price target on the real estate investment trust’s stock, down from their prior price target of $124.00.

Other research analysts also recently issued reports about the company. Barclays raised their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Evercore ISI upped their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Truist Financial dropped their target price on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.25.

Prologis Trading Up 1.0 %

NYSE PLD opened at $106.65 on Monday. Prologis has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The stock’s 50 day moving average price is $111.66 and its two-hundred day moving average price is $118.64. The stock has a market capitalization of $98.78 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 3.27 and a beta of 1.09.

Prologis (NYSE:PLD) last announced its earnings results 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 business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company posted $1.30 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that Prologis will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 116.01%.

Hedge Funds Weigh In On Prologis

A number of hedge funds have recently bought and sold shares of the business. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter worth approximately $27,000. Dunhill Financial LLC grew its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Prologis in the 2nd quarter valued at $31,000. Finally, Hara Capital LLC acquired a new position in Prologis in the 3rd quarter valued at $48,000. 93.50% of the stock is owned by institutional investors.

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.