Prologis (NYSE:PLD) Downgraded by StockNews.com

StockNews.com lowered shares of Prologis (NYSE:PLD) from a hold rating to a sell rating in a research report released on Wednesday morning.

PLD has been the topic of several other research reports. TheStreet upgraded shares of Prologis from a c+ rating to a b- rating in a research report on Friday, January 26th. BMO Capital Markets cut shares of Prologis from an outperform rating to a market perform rating and reduced their price target for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. Morgan Stanley boosted their price target on shares of Prologis from $128.00 to $141.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. Royal Bank of Canada boosted their price target on shares of Prologis from $128.00 to $145.00 and gave the stock an outperform rating in a research report on Friday, February 16th. Finally, The Goldman Sachs Group reduced their price target on shares of Prologis from $163.00 to $140.00 and set a buy rating on the stock in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $134.24.

Prologis Trading Up 0.7 %

Prologis stock opened at $104.03 on Wednesday. The stock has a market cap of $96.23 billion, a P/E ratio of 30.42, a PEG ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52. The firm’s 50 day moving average price is $125.06 and its 200-day moving average price is $121.86.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio is currently 112.28%.

Institutional Trading of Prologis

A number of large investors have recently made changes to their positions in PLD. Strategic Blueprint LLC boosted its stake in shares of Prologis by 7.4% during the third quarter. Strategic Blueprint LLC now owns 2,041 shares of the real estate investment trust’s stock valued at $229,000 after purchasing an additional 140 shares during the period. Proficio Capital Partners LLC lifted its stake in Prologis by 3.8% in the third quarter. Proficio Capital Partners LLC now owns 3,165 shares of the real estate investment trust’s stock worth $355,000 after acquiring an additional 115 shares during the period. UMB Bank n.a. lifted its stake in Prologis by 3.1% in the third quarter. UMB Bank n.a. now owns 109,672 shares of the real estate investment trust’s stock worth $12,306,000 after acquiring an additional 3,280 shares during the period. Opal Wealth Advisors LLC lifted its stake in Prologis by 16.1% in the third quarter. Opal Wealth Advisors LLC now owns 1,937 shares of the real estate investment trust’s stock worth $217,000 after acquiring an additional 268 shares during the period. Finally, Czech National Bank lifted its stake in Prologis by 47.7% in the third quarter. Czech National Bank now owns 161,473 shares of the real estate investment trust’s stock worth $18,119,000 after acquiring an additional 52,154 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 December 31, 2023, 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.