Prologis (NYSE:PLD) Upgraded to B by TheStreet

TheStreet upgraded shares of Prologis (NYSE:PLD) from a c+ rating to a b rating in a report issued on Friday morning, TheStreetRatingsTable reports.

Several other brokerages have also commented on PLD. BTIG Research raised their price objective on shares of Prologis from $117.00 to $121.00 and gave the stock a buy rating in a report on Thursday, April 22nd. Morgan Stanley raised their price objective on Prologis from $110.00 to $120.00 and gave the company an overweight rating in a research report on Monday. Zacks Investment Research downgraded Prologis from a buy rating to a hold rating and set a $122.00 price target on the stock. in a research note on Wednesday, April 21st. Raymond James began coverage on Prologis in a report on Thursday, April 22nd. They set a strong-buy rating and a $125.00 price target on the stock. Finally, Evercore ISI raised shares of Prologis from an in-line rating to an outperform rating and set a $121.00 price objective on the stock in a report on Wednesday, January 27th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $119.17.

PLD stock opened at $116.01 on Friday. The firm’s fifty day moving average is $109.23 and its 200 day moving average is $102.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 0.84. Prologis has a 52 week low of $80.12 and a 52 week high of $116.97. The firm has a market cap of $85.82 billion, a P/E ratio of 51.56, a P/E/G ratio of 3.41 and a beta of 0.80.

Prologis (NYSE:PLD) last released its quarterly earnings data on Sunday, April 18th. The real estate investment trust reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. Prologis had a return on equity of 4.67% and a net margin of 38.21%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $992.53 million. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. As a group, analysts forecast that Prologis will post 3.77 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, June 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.17%. Prologis’s payout ratio is currently 76.13%.

Several large investors have recently made changes to their positions in the business. Lindbrook Capital LLC raised its holdings in shares of Prologis by 8.9% in the first quarter. Lindbrook Capital LLC now owns 1,129 shares of the real estate investment trust’s stock worth $120,000 after buying an additional 92 shares during the period. Rosenberg Matthew Hamilton increased its stake in Prologis by 7.6% in the first quarter. Rosenberg Matthew Hamilton now owns 1,353 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 95 shares during the period. Garrison Asset Management LLC lifted its position in shares of Prologis by 3.5% during the first quarter. Garrison Asset Management LLC now owns 3,109 shares of the real estate investment trust’s stock worth $330,000 after purchasing an additional 104 shares during the last quarter. JJJ Advisors Inc. boosted its stake in shares of Prologis by 41.8% during the first quarter. JJJ Advisors Inc. now owns 356 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 105 shares during the period. Finally, Symphony Financial Ltd. Co. grew its holdings in shares of Prologis by 2.4% in the fourth quarter. Symphony Financial Ltd. Co. now owns 4,537 shares of the real estate investment trust’s stock worth $436,000 after purchasing an additional 107 shares during the last quarter. Institutional investors and hedge funds own 94.07% 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. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

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Analyst Recommendations for Prologis (NYSE:PLD)

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