Prologis, Inc. (NYSE:PLD – Get Free Report) 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.
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.
Read Our Latest Stock Analysis on PLD
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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