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

Shares of Prologis, Inc. (NYSE:PLDGet Free Report) have received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $133.35.

Several brokerages recently issued reports on PLD. Wells Fargo & Company lifted their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Argus lifted their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Scotiabank upped their price target on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Finally, Barclays increased their price objective on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th.

Get Our Latest Report on Prologis

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Prologis

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after buying an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC raised its position in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Prologis by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after purchasing an additional 317,815 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Prologis by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after purchasing an additional 365,904 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Prologis by 1.4% during the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after purchasing an additional 167,131 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD opened at $126.28 on Tuesday. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $125.82 and its 200-day simple moving average is $118.23. The company has a market capitalization of $116.92 billion, a price-to-earnings ratio of 36.92, a PEG ratio of 3.25 and a beta of 1.07.

Prologis (NYSE:PLDGet Free Report) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company earned $1.83 earnings per share. The firm’s revenue was down 18.1% on a year-over-year basis. On average, equities research analysts anticipate that Prologis will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

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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