Prologis’ (PLD) “Neutral” Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group reiterated their neutral rating on shares of Prologis (NYSE:PLD) in a research report report published on Monday morning, Marketbeat Ratings reports. The Goldman Sachs Group currently has a $132.00 price target on the real estate investment trust’s stock, down from their previous price target of $142.00.

PLD has been the subject of a number of other reports. Evercore ISI upped their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Morgan Stanley upped their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Truist Financial lifted their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays lowered their price objective on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Scotiabank lifted their target price on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.47.

Prologis Trading Down 0.4 %

PLD opened at $120.39 on Monday. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a market cap of $111.46 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a 50 day simple moving average of $125.26 and a 200 day simple moving average of $117.54.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company earned $1.30 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Prologis will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.19%. Prologis’s dividend payout ratio is 112.28%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.

Institutional Trading of Prologis

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLD. American Capital Advisory LLC acquired a new position in shares of Prologis during the 2nd quarter worth about $26,000. Semmax Financial Advisors Inc. bought a new position in Prologis during the second quarter worth about $27,000. Central Valley Advisors LLC acquired a new position in Prologis during the second quarter worth approximately $29,000. Sunbelt Securities Inc. raised its stake in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis in the second quarter valued at approximately $31,000. 93.50% of the stock is owned by institutional investors.

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.