Prologis, Inc. (NYSE:PLD) Given Average Recommendation of “Moderate Buy” by Brokerages

Prologis, Inc. (NYSE:PLD) 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.

Prologis Stock Down 0.7 %

Shares of PLD stock opened at $127.41 on Friday. The stock has a market cap of $117.96 billion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 3.28 and a beta of 1.07. Prologis has a one year low of $96.64 and a one year high of $137.52. The stock has a fifty day moving average price of $122.37 and a 200 day moving average price of $119.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) 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.