Prologis (NYSE:PLD) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Prologis (NYSE:PLD) from a hold rating to a sell rating in a research note published on Saturday.

PLD has been the topic of a number of other reports. CJS Securities lowered their price target on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Mizuho decreased their price objective on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Robert W. Baird decreased their price objective on Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Truist Financial decreased their price objective on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Finally, Barclays decreased their price objective on Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.42.

Prologis Stock Down 0.5%

PLD stock opened at $106.79 on Friday. Prologis has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $99.09 billion, a P/E ratio of 26.70, a PEG ratio of 2.70 and a beta of 1.25. The firm has a 50 day simple moving average of $104.96 and a 200-day simple moving average of $109.99.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, equities research analysts predict that Prologis will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.78%. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PLD. Brighton Jones LLC increased its position in shares of Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. Gladstone Institutional Advisory LLC boosted its stake in Prologis by 26.4% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 5,090 shares of the real estate investment trust’s stock worth $538,000 after purchasing an additional 1,062 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Prologis by 15.1% in the fourth quarter. Vontobel Holding Ltd. now owns 132,833 shares of the real estate investment trust’s stock worth $14,040,000 after purchasing an additional 17,439 shares in the last quarter. Asset Planning Inc acquired a new position in Prologis in the fourth quarter worth $53,000. Finally, Valeo Financial Advisors LLC boosted its stake in Prologis by 0.4% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,013,203 shares of the real estate investment trust’s stock worth $107,096,000 after purchasing an additional 3,669 shares in the last quarter. 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.