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

Shares of Prologis, Inc. (NYSE:PLD) have received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $131.12.

A number of brokerages have recently issued reports on PLD. Argus boosted their price objective on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Barclays dropped their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Truist Financial boosted their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. dropped their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st.

Prologis Stock Down 2.4 %

Shares of PLD opened at $117.52 on Friday. The company has a market capitalization of $108.81 billion, a PE ratio of 34.36, a PEG ratio of 3.05 and a beta of 1.07. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52. The stock’s 50-day moving average price is $125.17 and its two-hundred day moving average price is $117.56. 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 (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 earnings per share. On average, analysts anticipate that Prologis will post 5.42 EPS for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on 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 sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 PLD. Valeo Financial Advisors LLC grew its holdings in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after acquiring an additional 48,850,448 shares in the last quarter. Swedbank AB bought a new position in shares of Prologis in the first quarter valued at approximately $596,614,000. Alphinity Investment Management Pty Ltd bought a new position in shares of Prologis in the first quarter valued at approximately $465,659,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Prologis in the second quarter valued at approximately $203,223,000. Finally, Vanguard Group Inc. grew its holdings in shares of Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after acquiring an additional 1,460,229 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

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.