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

Prologis, Inc. (NYSE:PLD) has received a consensus rating of “Moderate Buy” from the twenty brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, ten have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $121.89.

A number of equities analysts recently weighed in on PLD shares. Mizuho lowered their price objective on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. BMO Capital Markets reduced their price objective on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Scotiabank reaffirmed a “sector underperform” rating and issued a $97.00 price target (down previously from $133.00) on shares of Prologis in a report on Monday, April 7th. BTIG Research decreased their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Nordea Investment Management AB raised its stake in Prologis by 11.1% in the 4th quarter. Nordea Investment Management AB now owns 499,787 shares of the real estate investment trust’s stock valued at $53,012,000 after acquiring an additional 50,113 shares during the period. Canandaigua National Bank & Trust Co. boosted its position in shares of Prologis by 4.4% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 9,906 shares of the real estate investment trust’s stock worth $1,047,000 after acquiring an additional 420 shares in the last quarter. Diversified Trust Co increased its stake in shares of Prologis by 564.8% in the 4th quarter. Diversified Trust Co now owns 27,635 shares of the real estate investment trust’s stock valued at $2,921,000 after purchasing an additional 23,478 shares during the last quarter. First County Bank CT grew its position in Prologis by 21.0% in the fourth quarter. First County Bank CT now owns 2,681 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 466 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in Prologis by 7.7% during the 4th quarter. Fulton Bank N.A. now owns 25,217 shares of the real estate investment trust’s stock worth $2,665,000 after purchasing an additional 1,808 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

Prologis stock opened at $104.41 on Wednesday. The stock has a market cap of $96.88 billion, a P/E ratio of 26.10, a PEG ratio of 2.70 and a beta of 1.25. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a 50-day moving average price of $106.98 and a 200 day moving average price of $111.64.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Sell-side analysts anticipate that Prologis will post 5.73 earnings per share for the current year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.87%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.