Prologis (NYSE:PLD) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Prologis (NYSE:PLD) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

Several other equities research analysts also recently commented on PLD. Royal Bank of Canada lifted their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an outperform rating in a research report on Friday, February 16th. Argus dropped their price target on shares of Prologis from $139.00 to $120.00 and set a buy rating on the stock in a research report on Monday. TheStreet upgraded shares of Prologis from a c+ rating to a b- rating in a research report on Friday, January 26th. Robert W. Baird boosted their price target on shares of Prologis from $133.00 to $137.00 and gave the stock a neutral rating in a research report on Tuesday, January 23rd. Finally, Evercore ISI dropped their price target on shares of Prologis from $136.00 to $123.00 and set an in-line rating on the stock in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $135.41.

Prologis Stock Down 1.6 %

NYSE:PLD opened at $103.18 on Wednesday. The firm’s 50 day simple moving average is $126.24 and its 200 day simple moving average is $122.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. Prologis has a one year low of $96.64 and a one year high of $137.52. The company has a market cap of $95.45 billion, a PE ratio of 30.17, a P/E/G ratio of 2.10 and a beta of 1.00.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio is 112.28%.

Hedge Funds Weigh In On Prologis

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MFA Wealth Advisors LLC boosted its position in Prologis by 4.1% during the first quarter. MFA Wealth Advisors LLC now owns 6,210 shares of the real estate investment trust’s stock worth $809,000 after purchasing an additional 246 shares during the period. Summit Financial LLC boosted its position in Prologis by 4.4% during the first quarter. Summit Financial LLC now owns 9,271 shares of the real estate investment trust’s stock worth $1,207,000 after purchasing an additional 388 shares during the period. Private Trust Co. NA boosted its position in Prologis by 12.1% during the first quarter. Private Trust Co. NA now owns 8,917 shares of the real estate investment trust’s stock worth $1,161,000 after purchasing an additional 966 shares during the period. Family Legacy Inc. boosted its position in Prologis by 2.1% during the first quarter. Family Legacy Inc. now owns 16,976 shares of the real estate investment trust’s stock worth $2,211,000 after purchasing an additional 342 shares during the period. Finally, CENTRAL TRUST Co boosted its position in Prologis by 2.7% during the first quarter. CENTRAL TRUST Co now owns 18,296 shares of the real estate investment trust’s stock worth $2,383,000 after purchasing an additional 473 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.