Prologis, Inc. (NYSE:PLD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Prologis, Inc. (NYSE:PLD) have been given an average rating of “Moderate Buy” by the nineteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $140.65.

A number of brokerages recently issued reports on PLD. Barclays reduced their target price on Prologis from $160.00 to $159.00 in a research note on Wednesday, June 28th. Truist Financial reduced their target price on Prologis from $140.00 to $135.00 in a research note on Tuesday, June 27th. Mizuho restated a “buy” rating and issued a $140.00 target price on shares of Prologis in a research note on Wednesday. 888 restated a “maintains” rating on shares of Prologis in a research note on Wednesday, June 28th. Finally, BTIG Research lifted their price objective on Prologis from $152.00 to $154.00 in a research note on Wednesday, July 19th.

Prologis Stock Performance

Shares of PLD opened at $124.33 on Friday. Prologis has a 12 month low of $98.03 and a 12 month high of $136.67. The stock has a fifty day moving average price of $123.64 and a 200-day moving average price of $122.80. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The firm has a market cap of $114.86 billion, a PE ratio of 32.72, a P/E/G ratio of 2.46 and a beta of 0.98.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $1.83 EPS for the quarter, beating the consensus estimate of $1.68 by $0.15. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $1.72 billion. Prologis had a return on equity of 6.17% and a net margin of 42.52%. The business’s revenue for the quarter was up 95.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.11 EPS. Equities research analysts predict that Prologis will post 5.59 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be paid a $0.87 dividend. The ex-dividend date is Friday, September 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.80%. Prologis’s dividend payout ratio is presently 91.58%.

Insider Activity at Prologis

In related news, Director George L. Fotiades sold 10,711 shares of Prologis stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $123.98, for a total value of $1,327,949.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prologis

Large investors have recently bought and sold shares of the company. GPS Wealth Strategies Group LLC purchased a new stake in Prologis during the 1st quarter worth approximately $25,000. Sageworth Trust Co purchased a new stake in shares of Prologis in the first quarter valued at approximately $26,000. VitalStone Financial LLC purchased a new stake in shares of Prologis in the second quarter valued at approximately $27,000. Headlands Technologies LLC purchased a new stake in shares of Prologis in the first quarter valued at approximately $30,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Prologis in the first quarter valued at approximately $31,000. 90.90% of the stock is currently owned by hedge funds and other institutional investors.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At June 30, 2023, 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 (114 million square meters) in 19 countries.