Prologis (NYSE:PLD) Announces Quarterly Earnings Results

Prologis (NYSE:PLD) released its quarterly earnings results on Wednesday. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04, Zacks reports. Prologis had a return on equity of 6.44% and a net margin of 45.50%.

Prologis Stock Down 0.1 %

Shares of PLD traded down $0.12 during midday trading on Wednesday, reaching $98.36. 483,556 shares of the stock were exchanged, compared to its average volume of 4,153,435. The company has a market cap of $91.18 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis has a 12-month low of $85.35 and a 12-month high of $132.57. The firm has a 50 day simple moving average of $112.53 and a 200-day simple moving average of $113.68.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 4.11%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Prologis stock. Brighton Jones LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 629.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 17,475 shares of the real estate investment trust’s stock after buying an additional 15,078 shares during the period. Brighton Jones LLC’s holdings in Prologis were worth $1,847,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada raised their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Robert W. Baird raised their price target on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Truist Financial boosted their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.78.

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.