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

Shares of Prologis, Inc. (NYSE:PLD) have received a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $128.88.

A number of equities analysts have commented on the stock. The Goldman Sachs Group reaffirmed 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. Truist Financial decreased their price objective on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Evercore ISI lifted their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Raymond James reiterated an “outperform” rating and set a $125.00 price target (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th.

Prologis Trading Up 0.6 %

Shares of Prologis stock opened at $105.70 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s 50 day simple moving average is $112.45 and its 200-day simple moving average is $118.68. The stock has a market cap of $97.90 billion, a P/E ratio of 31.93, a P/E/G ratio of 3.27 and a beta of 1.07. Prologis has a 1-year low of $100.82 and a 1-year high of $135.76.

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

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.63%. Prologis’s dividend payout ratio (DPR) is 116.01%.

Institutional Investors Weigh In On Prologis

Several large investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after acquiring an additional 2,138,693 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Prologis during the 2nd quarter worth approximately $203,223,000. AMF Tjanstepension AB raised its holdings in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Prologis by 326.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after purchasing an additional 1,358,542 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.