Prologis, Inc. (NYSE:PLD) Plans Dividend Increase - $1.01 Per Share

Prologis, Inc. (NYSE:PLD - Get Free Report) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Tuesday, March 18th will be paid a dividend of 1.01 per share by the real estate investment trust on Monday, March 31st. This represents a $4.04 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96.

Prologis has increased its dividend by an average of 15.1% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Prologis has a dividend payout ratio of 117.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Prologis to earn $6.20 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 61.9%.

Prologis Trading Down 0.2 %

Shares of Prologis stock traded down $0.27 during trading on Monday, hitting $120.71. The stock had a trading volume of 1,569,784 shares, compared to its average volume of 3,852,871. Prologis has a 1 year low of $100.82 and a 1 year high of $135.76. The stock has a 50 day simple moving average of $112.56 and a 200 day simple moving average of $117.99. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $111.88 billion, a PE ratio of 30.18, a P/E/G ratio of 2.70 and a beta of 1.10.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BMO Capital Markets downgraded shares of Prologis from a "market perform" rating to an "underperform" rating and cut their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Wolfe Research decreased their price objective on Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada increased their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $128.78.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company's stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.50% 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 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.