Prologis, Inc. (NYSE:PLD) Receives $131.12 Consensus PT from Analysts

Shares of Prologis, Inc. (NYSE:PLD - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seventeen ratings firms that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $131.12.

A number of analysts recently issued reports on PLD shares. StockNews.com raised Prologis from a "sell" rating to a "hold" rating in a research report on Thursday, July 18th. Scotiabank reduced their price target on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating on the stock in a research note on Friday, October 25th. Morgan Stanley increased their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. cut their target price on Prologis from $138.00 to $131.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Finally, Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 28th.

Prologis Trading Up 3.4 %

Shares of Prologis stock traded up $3.78 during mid-day trading on Wednesday, hitting $116.53. The stock had a trading volume of 2,447,231 shares, compared to its average volume of 3,638,103. The firm has a 50-day moving average of $122.11 and a two-hundred day moving average of $117.91. The firm has a market cap of $107.93 billion, a P/E ratio of 34.98, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis has a 12-month low of $101.11 and a 12-month high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $1.91 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company's revenue was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Prologis will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.30%. The ex-dividend date was Monday, September 16th. Prologis's dividend payout ratio (DPR) is presently 116.01%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares of the company's stock, valued at $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company's stock.

Institutional Trading of Prologis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB raised its stake in Prologis by 9.2% during the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust's stock worth $561,805,000 after acquiring an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust's stock worth $18,305,000 after purchasing an additional 43,235 shares in the last quarter. Sunflower Bank N.A. purchased a new stake in shares of Prologis in the 3rd quarter valued at about $249,000. Centersquare Investment Management LLC boosted its position in shares of Prologis by 5.7% in the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust's stock valued at $890,728,000 after purchasing an additional 367,565 shares during the period. Finally, Cetera Advisors LLC grew its stake in Prologis by 118.7% during the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust's stock worth $4,947,000 after buying an additional 20,623 shares during the last quarter. Institutional investors and hedge funds 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 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.