Prologis, Inc. (NYSE:PLD) Receives Consensus Recommendation of “Buy” from Brokerages

Prologis, Inc. (NYSE:PLDGet Rating) has received an average recommendation of “Buy” from the thirteen research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $175.75.

Several equities research analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Prologis from $164.00 to $170.00 in a research note on Monday, January 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Prologis from $179.00 to $184.00 and gave the stock a “buy” rating in a research note on Friday, April 22nd. Raymond James boosted their price objective on shares of Prologis from $180.00 to $190.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 25th. Barclays upped their target price on shares of Prologis from $171.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, April 21st. Finally, The Goldman Sachs Group upped their target price on shares of Prologis from $184.00 to $209.00 in a research note on Friday, January 21st.

Shares of NYSE PLD traded down $0.12 during midday trading on Tuesday, hitting $153.01. 23,943 shares of the company traded hands, compared to its average volume of 3,128,313. Prologis has a 12-month low of $112.00 and a 12-month high of $174.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.59 and a current ratio of 1.59. The stock has a 50-day moving average price of $158.92 and a 200 day moving average price of $155.00. The firm has a market cap of $113.27 billion, a P/E ratio of 30.67, a P/E/G ratio of 3.31 and a beta of 0.82.

Prologis (NYSE:PLDGet Rating) last posted its quarterly earnings data on Tuesday, April 19th. The real estate investment trust reported $1.54 EPS for the quarter, topping the consensus estimate of $0.55 by $0.99. Prologis had a net margin of 77.08% and a return on equity of 9.98%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Prologis’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts expect that Prologis will post 5.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Friday, March 18th were given a dividend of $0.79 per share. This is an increase from Prologis’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, March 17th. This represents a $3.16 dividend on an annualized basis and a yield of 2.07%. Prologis’s dividend payout ratio is 63.33%.

In other Prologis news, Director Irving F. Lyons III sold 44,385 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $164.60, for a total transaction of $7,305,771.00. Following the completion of the sale, the director now directly owns 22,431 shares of the company’s stock, valued at $3,692,142.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William D. Zollars sold 1,350 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $155.68, for a total transaction of $210,168.00. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Prologis by 3.9% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 18,671 shares of the real estate investment trust’s stock worth $3,015,000 after purchasing an additional 700 shares in the last quarter. Calamos Wealth Management LLC grew its stake in Prologis by 12.8% during the first quarter. Calamos Wealth Management LLC now owns 1,583 shares of the real estate investment trust’s stock valued at $256,000 after acquiring an additional 180 shares in the last quarter. Calamos Advisors LLC grew its stake in Prologis by 15.4% during the first quarter. Calamos Advisors LLC now owns 132,711 shares of the real estate investment trust’s stock valued at $21,430,000 after acquiring an additional 17,688 shares in the last quarter. Gilbert & Cook Inc. grew its stake in Prologis by 43.8% during the first quarter. Gilbert & Cook Inc. now owns 6,784 shares of the real estate investment trust’s stock valued at $1,095,000 after acquiring an additional 2,067 shares in the last quarter. Finally, Roosevelt Investment Group LLC grew its stake in Prologis by 1.5% during the first quarter. Roosevelt Investment Group LLC now owns 143,661 shares of the real estate investment trust’s stock valued at $23,198,000 after acquiring an additional 2,163 shares in the last quarter. 93.53% of the stock is owned by hedge funds and other institutional investors.

About Prologis (Get Rating)

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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