Prologis Inc (NYSE:PLD) announced a quarterly dividend on Thursday, September 7th, RTT News reports. Shareholders of record on Monday, September 18th will be paid a dividend of 0.44 per share by the real estate investment trust on Friday, September 29th. This represents a $1.76 dividend on an annualized basis and a yield of 2.76%.

Prologis has raised its dividend payment by an average of 14.5% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Prologis has a payout ratio of 62.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Prologis to earn $1.56 per share next year, which means the company may not be able to cover its $1.76 annual dividend with an expected future payout ratio of 112.8%.

Shares of Prologis (NYSE:PLD) traded up 0.90% during midday trading on Thursday, reaching $63.71. 2,314,851 shares of the company’s stock were exchanged. The stock has a market cap of $33.88 billion, a PE ratio of 28.60 and a beta of 0.93. The company’s 50 day moving average is $61.45 and its 200-day moving average is $56.27. Prologis has a 12 month low of $45.93 and a 12 month high of $64.30.

Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. Prologis had a return on equity of 7.27% and a net margin of 37.59%. The firm had revenue of $766.18 million for the quarter, compared to analysts’ expectations of $576 million. During the same quarter last year, the firm posted $0.60 EPS. The company’s revenue was up 27.2% compared to the same quarter last year. Equities analysts forecast that Prologis will post ($0.27) EPS for the current fiscal year.

In related news, CEO Gary E. Anderson sold 65,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $58.55, for a total transaction of $3,805,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carl B. Webb sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $61.38, for a total value of $1,227,600.00. Following the transaction, the director now owns 66,078 shares in the company, valued at $4,055,867.64. The disclosure for this sale can be found here. 1.31% of the stock is owned by company insiders.

Several research firms have weighed in on PLD. SunTrust Banks, Inc. raised Prologis from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Tuesday. KeyCorp reaffirmed a “buy” rating and issued a $65.00 price target on shares of Prologis in a report on Sunday, August 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $66.00 price target (up previously from $59.00) on shares of Prologis in a report on Thursday, August 24th. BidaskClub raised Prologis from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Finally, Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Prologis has a consensus rating of “Buy” and an average price target of $60.00.

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Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.

Dividend History for Prologis (NYSE:PLD)

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