Prologis (NYSE:PLD) Upgraded to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Prologis (NYSE:PLD) from a neutral rating to an outperform rating in a research note released on Monday, Marketbeat reports. Robert W. Baird currently has $123.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $124.00.

A number of other research firms also recently weighed in on PLD. Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Evercore ISI boosted their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. 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. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.25.

Prologis Stock Up 1.0 %

Shares of PLD opened at $106.65 on Monday. The firm has a 50 day simple moving average of $111.66 and a two-hundred day simple moving average of $118.64. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis has a one year low of $100.82 and a one year high of $135.76. The company has a market cap of $98.78 billion, a P/E ratio of 32.22, a P/E/G ratio of 3.27 and a beta of 1.09.

Prologis (NYSE:PLD) last posted its quarterly earnings results 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). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $1.30 EPS. Research analysts forecast that Prologis will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.60%. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

Institutional Investors Weigh In On Prologis

Several institutional investors and hedge funds have recently made changes to their positions in PLD. State Street Corp lifted its stake in Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after buying an additional 767,609 shares during the period. Geode Capital Management LLC increased its stake in shares of Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after acquiring an additional 194,472 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Prologis by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after acquiring an additional 317,815 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after acquiring an additional 441,841 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 acquiring an additional 8,545,336 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

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.