Prologis (NYSE:PLD) Lowered to Market Perform at BMO Capital Markets

BMO Capital Markets lowered shares of Prologis (NYSE:PLD) from an outperform rating to a market perform rating in a report published on Monday morning, MarketBeat reports. The brokerage currently has $112.00 price target on the real estate investment trust’s stock, down from their previous price target of $145.00.

Several other brokerages have also weighed in on PLD. Evercore ISI cut their target price on Prologis from $136.00 to $123.00 and set an in-line rating on the stock in a research report on Thursday, April 18th. Mizuho restated a neutral rating and set a $130.00 target price on shares of Prologis in a research note on Tuesday, April 2nd. TheStreet upgraded Prologis from a c+ rating to a b- rating in a research note on Friday, January 26th. UBS Group lowered their target price on Prologis from $151.00 to $138.00 and set a buy rating for the company in a research note on Thursday, April 18th. Finally, Raymond James raised their target price on Prologis from $130.00 to $145.00 and gave the company a strong-buy rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $134.24.

Prologis Trading Up 0.2 %

Shares of Prologis stock opened at $103.35 on Monday. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The firm has a market cap of $95.60 billion, a PE ratio of 30.22, a P/E/G ratio of 2.17 and a beta of 1.00. The business’s fifty day moving average is $125.65 and its two-hundred day moving average is $121.90. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.72%. Prologis’s payout ratio is presently 112.28%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLD. Valeo Financial Advisors LLC grew its position in Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Norges Bank purchased a new position in Prologis during the 4th quarter worth approximately $1,074,648,000. Capital World Investors grew its holdings in shares of Prologis by 1,252.9% during the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after acquiring an additional 6,765,582 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Prologis during the 3rd quarter valued at $185,164,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after acquiring an additional 1,034,211 shares in the last quarter. Institutional investors and hedge funds 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 December 31, 2023, 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.