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

Shares of Prologis, Inc. (NYSE:PLD) have received an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $126.8824.

PLD has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a report on Thursday, October 16th. Truist Financial reaffirmed a “buy” rating and issued a $131.00 target price (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a research note on Monday, October 20th. Mizuho raised their price objective on shares of Prologis from $118.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Finally, UBS Group set a $138.00 target price on shares of Prologis in a research report on Thursday, December 4th.

Prologis Trading Up 0.3%

PLD opened at $128.03 on Thursday. The company has a market cap of $118.92 billion, a P/E ratio of 37.33, a PEG ratio of 3.92 and a beta of 1.40. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $125.11 and its 200-day moving average is $115.11. Prologis has a 1-year low of $85.35 and a 1-year high of $131.70.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The business had revenue of $2.21 billion during the quarter. Equities research analysts predict that Prologis will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. Prologis’s payout ratio is currently 117.78%.

Insiders Place Their Bets

In related news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the transaction, the director directly owned 8,208 shares of the company’s stock, valued at $1,047,340.80. This trade represents a 7.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,621 shares of company stock valued at $198,655 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Prologis

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Clayton Financial Group LLC bought a new stake in Prologis in the third quarter valued at approximately $26,000. Activest Wealth Management lifted its stake in shares of Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 223 shares during the period. GKV Capital Management Co. Inc. acquired a new position in Prologis in the first quarter valued at approximately $34,000. Silver Oak Securities Incorporated acquired a new position in shares of Prologis during the 3rd quarter valued at $36,000. Finally, Rossby Financial LCC lifted its position in shares of Prologis by 69.6% during the 3rd quarter. Rossby Financial LCC now owns 329 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds 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.