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

Shares of Prologis, Inc. (NYSE:PLD - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, eleven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $128.78.

Several brokerages have recently commented on PLD. Mizuho decreased their target price on Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Raymond James reissued a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. BMO Capital Markets lowered shares of Prologis from a "market perform" rating to an "underperform" rating and reduced their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Robert W. Baird raised their price target on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, January 30th.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company's stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by insiders.

Institutional Trading of Prologis

Several hedge funds and other institutional investors have recently modified their holdings of PLD. State Street Corp raised its position in Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust's stock valued at $7,250,157,000 after buying an additional 767,609 shares during the last quarter. Cohen & Steers Inc. grew its stake in shares of Prologis by 3.2% during the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after acquiring an additional 882,529 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Prologis by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after acquiring an additional 610,251 shares in the last quarter. FMR LLC raised its holdings in shares of Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after purchasing an additional 334,907 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

NYSE PLD traded down $0.27 during trading hours on Friday, reaching $120.71. 2,708,177 shares of the company's stock were exchanged, compared to its average volume of 3,894,257. The firm has a fifty day moving average of $112.80 and a 200-day moving average of $117.98. Prologis has a one year low of $100.82 and a one year high of $135.76. The stock has a market cap of $111.88 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is 96.00%.

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.