Shares of Prologis, Inc. (NYSE:PLD – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $129.06.
PLD has been the subject of several analyst reports. Scotiabank reduced their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. lowered their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Truist Financial cut their price target on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Finally, Evercore ISI boosted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th.
Read Our Latest Stock Analysis on PLD
Prologis Trading Down 1.0 %
Prologis (NYSE:PLD – Get Free Report) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. As a group, equities analysts anticipate that Prologis will post 5.45 earnings per share for the current year.
Prologis Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.64%. Prologis’s dividend payout ratio is currently 116.01%.
Institutional Investors Weigh In On Prologis
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLD. Coronation Fund Managers Ltd. bought a new stake in Prologis in the second quarter worth $878,000. Valmark Advisers Inc. lifted its holdings in shares of Prologis by 24.7% in the 2nd quarter. Valmark Advisers Inc. now owns 2,006 shares of the real estate investment trust’s stock worth $225,000 after acquiring an additional 397 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of Prologis by 19.6% during the 2nd quarter. Crestwood Advisors Group LLC now owns 2,056 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 337 shares during the period. Tortoise Investment Management LLC grew its holdings in Prologis by 25.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 869 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 174 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Prologis by 0.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 79,483 shares of the real estate investment trust’s stock worth $8,927,000 after purchasing an additional 516 shares during the period. 93.50% of the stock is currently 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 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.
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