Shares of Prologis, Inc. (NYSE:PLD – Get Free Report) 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
Prologis (NYSE:PLD – Get Free Report) 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.
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.
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