Prologis (NYSE:PLD) Upgraded at Baird R W

Baird R W upgraded shares of Prologis (NYSE:PLD) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other analysts also recently weighed in on the stock. Raymond James reaffirmed an “outperform” rating and set a $125.00 price target (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Truist Financial lowered their price target on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, December 5th. JPMorgan Chase & Co. reduced their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $124.00 to $123.00 in a research note on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.06.

Prologis Stock Down 1.0 %

NYSE PLD opened at $105.53 on Monday. The company has a market cap of $97.74 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 3.27 and a beta of 1.09. Prologis has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $111.28 and a 200-day moving average of $118.53.

Prologis (NYSE:PLD) last released 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). The company 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%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.30 earnings per share. On average, equities research analysts expect that Prologis will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 116.01%.

Hedge Funds Weigh In On Prologis

Several hedge funds and other institutional investors have recently bought and sold shares of PLD. Fulton Bank N.A. increased its holdings in Prologis by 7.7% in the fourth quarter. Fulton Bank N.A. now owns 25,217 shares of the real estate investment trust’s stock worth $2,665,000 after purchasing an additional 1,808 shares in the last quarter. First County Bank CT lifted its position in shares of Prologis by 21.0% during the 4th quarter. First County Bank CT now owns 2,681 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 466 shares during the period. Diversified Trust Co boosted its stake in Prologis by 564.8% during the fourth quarter. Diversified Trust Co now owns 27,635 shares of the real estate investment trust’s stock worth $2,921,000 after acquiring an additional 23,478 shares in the last quarter. Canandaigua National Bank & Trust Co. raised its holdings in shares of Prologis by 4.4% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 9,906 shares of the real estate investment trust’s stock valued at $1,047,000 after purchasing an additional 420 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Prologis by 11.1% during the 4th quarter. Nordea Investment Management AB now owns 499,787 shares of the real estate investment trust’s stock worth $53,012,000 after purchasing an additional 50,113 shares in the last quarter. Institutional investors and hedge funds 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.