Prologis, Inc. (PLD) to Issue Quarterly Dividend of $0.96 on September 30th

Prologis, Inc. (NYSE:PLD) declared a quarterly dividend on Tuesday, September 3rd, RTT News reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.96 per share by the real estate investment trust on Monday, September 30th. This represents a $3.84 annualized dividend and a yield of 2.95%. The ex-dividend date is Monday, September 16th.

Prologis has increased its dividend payment by an average of 14.5% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Prologis has a payout ratio of 127.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Prologis to earn $6.00 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 64.0%.

Prologis Trading Down 0.2 %

Shares of Prologis stock opened at $129.98 on Friday. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $120.34 billion, a P/E ratio of 38.01, a PEG ratio of 3.36 and a beta of 1.07. The company’s fifty day moving average is $124.42 and its two-hundred day moving average is $118.94.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.83 earnings per share. Analysts forecast that Prologis will post 5.42 earnings per share for the current year.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on PLD shares. Morgan Stanley boosted their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Barclays boosted their price objective on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Argus lifted their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group boosted their price target on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.12.

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.