Prologis (NYSE:PLD) Given Neutral Rating at The Goldman Sachs Group

The Goldman Sachs Group reiterated their neutral rating on shares of Prologis (NYSE:PLD) in a report issued on Monday morning, MarketBeat reports. The Goldman Sachs Group currently has a $132.00 target price on the real estate investment trust’s stock, down from their prior target price of $142.00.

Several other research firms have also recently weighed in on PLD. Argus boosted their price objective on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Scotiabank upped their target price on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Finally, Wells Fargo & Company raised their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $131.47.

Prologis Price Performance

Shares of PLD stock opened at $117.77 on Monday. Prologis has a 52 week low of $96.64 and a 52 week high of $137.52. The stock has a market capitalization of $109.04 billion, a PE ratio of 34.44, a PEG ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The stock’s fifty day moving average is $125.39 and its 200-day moving average is $117.56.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company earned $1.30 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts expect that Prologis will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by insiders.

Institutional Trading of Prologis

A number of institutional investors have recently modified their holdings of the company. Valeo Financial Advisors LLC raised its position in Prologis by 182,067.2% in the 1st 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 buying an additional 48,850,448 shares during the last quarter. Swedbank AB acquired a new stake in shares of Prologis in the first quarter valued at approximately $596,614,000. Alphinity Investment Management Pty Ltd bought a new stake in shares of Prologis in the first quarter worth $465,659,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Prologis during the second quarter worth $203,223,000. Finally, Vanguard Group Inc. grew its position in 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 purchasing an additional 1,460,229 shares in the last quarter. 93.50% of the stock is currently 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.