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

Prologis, Inc. (NYSE:PLD) has been given an average recommendation of “Moderate Buy” by the twenty analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $120.42.

PLD has been the topic of a number of recent research reports. Barclays cut their target price on Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley lowered their target price on Prologis to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company lowered their price objective on Prologis from $146.00 to $119.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. BMO Capital Markets cut their price objective on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird reduced their target price on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th.

Prologis Stock Down 0.6%

Shares of NYSE PLD opened at $107.74 on Friday. Prologis has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a market cap of $99.97 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.70 and a beta of 1.25. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average is $103.73 and its 200 day moving average is $110.46.

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

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s payout ratio is 101.00%.

Hedge Funds Weigh In On Prologis

A number of large investors have recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis in the fourth quarter valued at about $26,000. Activest Wealth Management raised its stake in Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 223 shares during the last quarter. Crowley Wealth Management Inc. acquired a new stake in Prologis in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Prologis in the 4th quarter worth $30,000. Finally, REAP Financial Group LLC increased its holdings in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 84 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

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.