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

Prologis, Inc. (NYSE:PLD) has been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $132.35.

Several analysts recently issued reports on the company. Evercore ISI lowered their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday, April 18th. Royal Bank of Canada raised their target price on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. JPMorgan Chase & Co. lowered their target price on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $145.00 to $112.00 in a research note on Monday, April 22nd.

Prologis Stock Down 0.2 %

Shares of NYSE PLD opened at $101.84 on Friday. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a market cap of $94.29 billion, a P/E ratio of 29.78, a P/E/G ratio of 2.18 and a beta of 1.00. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average price of $123.24 and a 200 day moving average price of $121.78.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.77%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Hedge Funds Weigh In On Prologis

A number of large investors have recently bought and sold shares of the business. Family Legacy Inc. raised its holdings in shares of Prologis by 0.5% during the fourth quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock valued at $2,217,000 after buying an additional 87 shares during the last quarter. Lockerman Financial Group Inc. raised its holdings in shares of Prologis by 2.0% during the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 87 shares during the last quarter. Hixon Zuercher LLC raised its holdings in shares of Prologis by 0.6% during the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock valued at $1,950,000 after buying an additional 88 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Prologis by 11.0% during the fourth quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 90 shares during the last quarter. Finally, CVA Family Office LLC raised its holdings in shares of Prologis by 21.4% during the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 94 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

About Prologis

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.