Prologis (NYSE:PLD) Cut to Sell at StockNews.com

StockNews.com lowered shares of Prologis (NYSE:PLD) from a hold rating to a sell rating in a report published on Wednesday.

Several other research analysts have also recently weighed in on PLD. Robert W. Baird upped their price objective on Prologis from $133.00 to $137.00 and gave the stock a neutral rating in a research report on Tuesday, January 23rd. TheStreet raised shares of Prologis from a c+ rating to a b- rating in a research note on Friday, January 26th. Morgan Stanley raised their target price on shares of Prologis from $128.00 to $141.00 and gave the company an overweight rating in a research note on Wednesday, January 24th. Mizuho reissued a neutral rating and issued a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. Finally, Evercore ISI dropped their price objective on Prologis from $136.00 to $123.00 and set an in-line rating for the company in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of Moderate Buy and a consensus price target of $134.24.

Prologis Stock Up 0.7 %

Prologis stock opened at $104.06 on Wednesday. The company’s 50 day simple moving average is $125.06 and its 200 day simple moving average is $121.94. The firm has a market capitalization of $96.26 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.15 and a beta of 1.00. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.69%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Hedge Funds Weigh In On Prologis

Several institutional investors and hedge funds have recently bought and sold shares of PLD. Optimum Investment Advisors bought a new position in Prologis during the 1st quarter valued at approximately $26,000. True Wealth Design LLC purchased a new position in shares of Prologis in the 4th quarter valued at approximately $27,000. Thompson Investment Management Inc. purchased a new position in Prologis during the fourth quarter valued at $28,000. FinTrust Capital Advisors LLC increased its stake in shares of Prologis by 966.7% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 232 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its stake in shares of Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares in the last quarter. 93.50% of the stock is currently owned by 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.