Prologis, Inc. (NYSE:PLD) to Issue $0.96 Quarterly Dividend

Prologis, Inc. (NYSE:PLD) declared a quarterly dividend on Thursday, May 9th, RTT News reports. Investors of record on Monday, June 17th will be given a dividend of 0.96 per share by the real estate investment trust on Friday, June 28th. This represents a $3.84 annualized dividend and a yield of 3.42%. The ex-dividend date is Monday, June 17th.

Prologis has increased its dividend payment by an average of 14.5% per year over the last three years and has increased its dividend every year for the last 11 years. Prologis has a dividend payout ratio of 123.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Prologis to earn $6.07 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 63.3%.

Prologis Trading Down 0.1 %

NYSE PLD opened at $112.29 on Friday. Prologis has a one year low of $96.64 and a one year high of $137.52. The company’s 50 day moving average price is $109.18 and its 200 day moving average price is $122.40. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $103.96 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 2.50 and a beta of 1.07.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. UBS Group lowered their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Scotiabank decreased their price target on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Finally, Robert W. Baird decreased their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $129.76.

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.