Prologis (NYSE:PLD) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Prologis (NYSE:PLD) from a neutral rating to an outperform rating in a research note issued to investors on Monday, Marketbeat reports. Robert W. Baird currently has $123.00 target price on the real estate investment trust’s stock, down from their previous target price of $124.00.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. cut their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Evercore ISI raised their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Truist Financial decreased their price target on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Barclays lifted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Raymond James reaffirmed an “outperform” rating and set a $125.00 price target (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.06.

Prologis Stock Performance

Prologis stock opened at $105.53 on Monday. The company has a market cap of $97.74 billion, a price-to-earnings ratio of 31.88, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. Prologis has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s 50-day moving average is $111.28 and its 200-day moving average is $118.53.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts anticipate that Prologis will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 116.01%.

Hedge Funds Weigh In On Prologis

Hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC raised its stake in Prologis by 145.0% during the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after acquiring an additional 2,138,693 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Prologis in the second quarter worth about $203,223,000. AMF Tjanstepension AB boosted its stake in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares during the period. Finally, Federated Hermes Inc. grew its holdings in shares of Prologis by 326.3% during the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after purchasing an additional 1,358,542 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Company Profile

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.