BMO Capital Markets Downgrades Prologis (NYSE:PLD) to Underperform

BMO Capital Markets downgraded shares of Prologis (NYSE:PLD) from a market perform rating to an underperform rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage currently has $104.00 target price on the real estate investment trust’s stock, down from their previous target price of $120.00.

Several other research firms have also weighed in on PLD. Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Truist Financial dropped their price objective on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company increased 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. Finally, Bank of America reiterated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $130.13.

Prologis Trading Down 1.6 %

Shares of PLD opened at $112.00 on Friday. The stock’s 50-day moving average is $117.57 and its two-hundred day moving average is $118.93. The stock has a market cap of $103.73 billion, a PE ratio of 33.84, a P/E/G ratio of 3.36 and a beta of 1.07. 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 12 month low of $101.11 and a 12 month high of $137.52.

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 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts forecast that Prologis will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.96 dividend. The ex-dividend date is Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.43%. Prologis’s dividend payout ratio is currently 116.01%.

Hedge Funds Weigh In On Prologis

Several institutional investors have recently bought and sold shares of the stock. American Capital Advisory LLC acquired a new position in shares of Prologis during the second quarter worth approximately $26,000. Semmax Financial Advisors Inc. acquired a new position in Prologis in the second quarter worth $27,000. Sunbelt Securities Inc. grew its holdings in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Prologis during the second quarter valued at approximately $31,000. Finally, Dunhill Financial LLC raised its position in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

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.