Prologis (NYSE:PLD) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Prologis (NYSE:PLDFree Report) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other equities research analysts have also commented on the stock. Scotiabank upped their price target on shares of Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a report on Monday, May 12th. Barclays dropped their target price on Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. CJS Securities lowered their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Finally, Evercore ISI dropped their price objective on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $120.42.

Check Out Our Latest Stock Analysis on PLD

Prologis Stock Down 1.2%

Prologis stock opened at $107.18 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The business’s 50-day simple moving average is $104.61 and its two-hundred day simple moving average is $110.11. The company has a market cap of $99.45 billion, a PE ratio of 26.79, a PEG ratio of 2.70 and a beta of 1.25. Prologis has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

Prologis (NYSE:PLDGet Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Equities analysts anticipate that Prologis will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Tuesday, June 17th. Prologis’s dividend payout ratio is presently 101.00%.

Institutional Trading of Prologis

Several large investors have recently made changes to their positions in PLD. Militia Capital Partners LP boosted its stake in Prologis by 358.5% during the 1st quarter. Militia Capital Partners LP now owns 2,430 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 1,900 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of Prologis by 9.0% in the first quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock worth $10,129,000 after buying an additional 7,518 shares in the last quarter. Strs Ohio acquired a new position in Prologis during the first quarter worth about $98,308,000. Foresight Group Ltd Liability Partnership grew its stake in Prologis by 552.3% during the 1st quarter. Foresight Group Ltd Liability Partnership now owns 38,849 shares of the real estate investment trust’s stock valued at $4,290,000 after acquiring an additional 32,893 shares in the last quarter. Finally, Advisors Capital Management LLC grew its stake in Prologis by 4.8% during the 1st quarter. Advisors Capital Management LLC now owns 216,727 shares of the real estate investment trust’s stock valued at $24,228,000 after acquiring an additional 9,986 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Prologis (NYSE:PLD)

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