Prologis (NYSE:PLD) Shares Gap Down Following Analyst Downgrade

Prologis, Inc. (NYSE:PLD)’s share price gapped down prior to trading on Wednesday after Barclays lowered their price target on the stock from $141.00 to $135.00. The stock had previously closed at $114.74, but opened at $108.70. Barclays currently has an overweight rating on the stock. Prologis shares last traded at $105.89, with a volume of 7,918,996 shares traded.

A number of other analysts have also recently commented on the company. Royal Bank of Canada lifted their price target on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Morgan Stanley lifted their price target on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Mizuho reaffirmed a “neutral” rating and set a $130.00 price target on shares of Prologis in a research report on Tuesday, April 2nd. Raymond James lifted their price target on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. Finally, Robert W. Baird lifted their price target on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average price target of $141.27.

Hedge Funds Weigh In On Prologis

Institutional investors and hedge funds have recently modified their holdings of the business. BOKF NA boosted its holdings in Prologis by 3.8% in the 4th quarter. BOKF NA now owns 2,125 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 77 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in Prologis by 1.5% in the 2nd quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust’s stock worth $680,000 after buying an additional 82 shares during the last quarter. SevenOneSeven Capital Management boosted its holdings in Prologis by 2.3% in the 4th quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust’s stock worth $427,000 after buying an additional 86 shares during the last quarter. Family Legacy Inc. boosted its holdings in Prologis by 0.5% in the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after buying an additional 87 shares during the last quarter. Finally, Lockerman Financial Group Inc. boosted its holdings in Prologis by 2.0% in the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 7.2 %

The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $98.51 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 2.31 and a beta of 1.00. The company has a fifty day moving average of $128.99 and a 200-day moving average of $122.19.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 earnings per share. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is currently 116.72%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 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 (115 million square meters) in 19 countries.