Prologis (NYSE:PLD) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Prologis (NYSE:PLD) from a sell rating to a hold rating in a research report released on Thursday morning.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Prologis from $163.00 to $140.00 and set a buy rating on the stock in a report on Monday, April 22nd. Robert W. Baird lowered their price target on Prologis from $137.00 to $117.00 and set a neutral rating on the stock in a research report on Wednesday, May 1st. Mizuho cut their price objective on Prologis from $130.00 to $120.00 and set a neutral rating for the company in a report on Friday, May 31st. Barclays reduced their target price on shares of Prologis from $135.00 to $123.00 and set an overweight rating on the stock in a research note on Monday, April 29th. Finally, Evercore ISI increased their target price on shares of Prologis from $119.00 to $123.00 and gave the stock an in-line rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $127.60.

Prologis Stock Performance

Shares of NYSE PLD opened at $123.75 on Thursday. The firm has a market capitalization of $114.57 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 2.93 and a beta of 1.06. Prologis has a one year low of $96.64 and a one year high of $137.52. The business has a fifty day simple moving average of $111.97 and a 200 day simple moving average of $120.13. The company has a current ratio of 0.10, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company posted $1.83 EPS. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. Sell-side analysts expect that Prologis will post 5.42 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.10%. Prologis’s payout ratio is currently 112.28%.

Institutional Trading of Prologis

Institutional investors and hedge funds have recently made changes to their positions in the business. Optimum Investment Advisors bought a new stake in Prologis in the first quarter valued at about $26,000. True Wealth Design LLC acquired a new stake in shares of Prologis in the 4th quarter valued at approximately $27,000. Thompson Investment Management Inc. bought a new position in Prologis during the 4th quarter worth approximately $28,000. Central Valley Advisors LLC bought a new stake in shares of Prologis in the second quarter worth about $29,000. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 93.50% 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. 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.