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

Shares of Prologis, Inc. (NYSE:PLD) have received an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $133.35.

A number of analysts have recently weighed in on the stock. Scotiabank increased their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Morgan Stanley lifted their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Truist Financial boosted their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’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 value of $671,164.00. Following the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Optimum Investment Advisors acquired a new stake in Prologis during the first quarter worth about $26,000. American Capital Advisory LLC acquired a new stake in shares of Prologis during the 2nd quarter worth approximately $26,000. True Wealth Design LLC purchased a new stake in shares of Prologis during the 4th quarter valued at approximately $27,000. Semmax Financial Advisors Inc. acquired a new stake in Prologis during the second quarter worth $27,000. Finally, Central Valley Advisors LLC acquired a new stake in Prologis during the second quarter worth $29,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $125.59 on Tuesday. The firm has a market capitalization of $116.28 billion, a P/E ratio of 36.72, a P/E/G ratio of 3.25 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $125.83 and its two-hundred day simple moving average is $118.37. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm’s revenue was down 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 earnings per share. As a group, equities analysts anticipate that Prologis will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

About Prologis

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.