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

Prologis, Inc. (NYSE:PLD) has earned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $131.47.

Several equities analysts have weighed in on PLD shares. JPMorgan Chase & Co. cut their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday. Argus lifted their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Truist Financial lifted their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Bank of America reiterated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Finally, Morgan Stanley lifted their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Prologis

A number of institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its position in Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after purchasing an additional 263,649 shares during the last quarter. Swedbank AB raised its position in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after purchasing an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Prologis by 36.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after purchasing an additional 43,235 shares during the last quarter. US Bancorp DE raised its position in Prologis by 6.5% in the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after purchasing an additional 41,469 shares during the last quarter. Finally, Sunflower Bank N.A. bought a new position in Prologis in the 3rd quarter worth approximately $249,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

NYSE PLD opened at $120.82 on Friday. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The stock’s 50-day moving average is $125.26 and its two-hundred day moving average is $117.54. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $111.86 billion, a P/E ratio of 35.33, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the business earned $1.30 earnings per share. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts anticipate that Prologis will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 112.28%.

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.