Prologis, Inc. (NYSE:PLD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Prologis, Inc. (NYSE:PLD) have been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $133.12.

PLD has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Mizuho cut their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Truist Financial upped their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Evercore ISI upped their target price on shares of Prologis from $122.00 to $124.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th.

Prologis Stock Up 0.4 %

Shares of Prologis stock opened at $128.36 on Friday. The company has a fifty day moving average price of $121.69 and a 200 day moving average price of $118.95. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a market cap of $118.85 billion, a price-to-earnings ratio of 37.53, a price-to-earnings-growth ratio of 3.28 and a beta of 1.06.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 2.99%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Institutional Trading of Prologis

A number of large investors have recently added to or reduced their stakes in PLD. Optimum Investment Advisors bought a new stake in Prologis during the first quarter worth approximately $26,000. American Capital Advisory LLC bought a new stake in Prologis during the second quarter worth approximately $26,000. True Wealth Design LLC bought a new stake in Prologis during the fourth quarter worth approximately $27,000. Semmax Financial Advisors Inc. bought a new stake in Prologis during the second quarter worth approximately $27,000. Finally, Central Valley Advisors LLC bought a new stake in Prologis during the second quarter worth approximately $29,000. 93.50% of the stock is currently 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.