Prologis, Inc. (NYSE:PLD – Get Free Report) has earned an average recommendation of “Moderate Buy” from the seventeen analysts that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $133.12.
PLD has been the subject of a number of analyst reports. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. Mizuho cut their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Truist Financial lifted their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th.
Read Our Latest Research Report on Prologis
Prologis Stock Down 0.7 %
Prologis (NYSE:PLD – Get Free Report) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period last year, the business earned $1.83 earnings per share. Analysts predict that Prologis will post 5.42 earnings per share for the current year.
Prologis Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.96 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.01%. Prologis’s payout ratio is 112.28%.
Insider Transactions at Prologis
In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company’s stock.
Hedge Funds Weigh In On Prologis
Several institutional investors have recently modified their holdings of the stock. True Wealth Design LLC bought a new position in shares of Prologis during the 4th quarter valued at about $27,000. Optimum Investment Advisors bought a new position in shares of Prologis during the 1st quarter valued at about $26,000. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the second quarter worth $27,000. JFS Wealth Advisors LLC raised its holdings in shares of Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 168 shares during the period. Finally, American Capital Advisory LLC bought a new stake in Prologis in the 2nd quarter valued at $26,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.
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.
Read More
- Five stocks we like better than Prologis
- Why Are These Companies Considered Blue Chips?
- Emerging Markets: What They Are and Why They Matter
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Recession or Not, These 3 Stocks Are Winners
- Stock Splits, Do They Really Impact Investors?
- Why NVIDIA Is More of a Screaming Buy Than Ever
Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.