Prologis, Inc. (NYSE:PLD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Prologis, Inc. (NYSE:PLD) have earned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $131.12.

A number of research analysts have commented on PLD shares. Evercore ISI upped their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, Argus upped their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd.

Prologis Price Performance

Shares of NYSE PLD opened at $113.42 on Wednesday. The firm has a market cap of $105.05 billion, a PE ratio of 34.27, a PEG ratio of 2.98 and a beta of 1.08. The firm has a fifty day moving average of $121.34 and a 200 day moving average of $118.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis has a one year low of $101.11 and a one year high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company posted $1.30 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Prologis will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on 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 sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Prologis

Several hedge funds have recently modified their holdings of the stock. ASB Consultores LLC lifted its holdings in Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 86 shares during the period. Arbor Capital Management Inc. ADV raised its stake in shares of Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after buying an additional 87 shares during the last quarter. CX Institutional increased its position in Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA increased its position in Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares in the last quarter. Finally, Destination Wealth Management increased its position in Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 92 shares in the last quarter. 93.50% of the stock is 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.