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

Shares of Prologis, Inc. (NYSE:PLD - Get Free Report) have received a consensus rating of "Moderate Buy" from the sixteen analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $130.13.

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a research report on Wednesday, August 28th. The Goldman Sachs Group restated a "neutral" rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. BMO Capital Markets cut Prologis from a "market perform" rating to an "underperform" rating and decreased their price target for the stock from $120.00 to $104.00 in a research note on Friday. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Finally, Bank of America restated a "neutral" rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th.

Prologis Price Performance

NYSE:PLD traded down $1.79 during mid-day trading on Friday, reaching $112.00. The stock had a trading volume of 3,650,844 shares, compared to its average volume of 3,499,513. The stock has a market capitalization of $103.73 billion, a P/E ratio of 33.84, a P/E/G ratio of 3.36 and a beta of 1.07. The firm has a 50 day moving average price of $117.57 and a two-hundred day moving average price of $118.93. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis has a one year low of $101.11 and a one year high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the firm posted $1.30 earnings per share. The company's revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Prologis will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.43%. Prologis's payout ratio is 116.01%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust's stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Prologis by 145.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust's stock worth $456,320,000 after buying an additional 2,138,693 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Prologis in the 2nd quarter worth about $203,223,000. AMF Tjanstepension AB boosted its stake in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock worth $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Prologis by 326.3% during the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust's stock worth $199,343,000 after acquiring an additional 1,358,542 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Company Profile

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.