Prologis (NYSE:PLD) Sets New 12-Month Low - Should You Sell?

Prologis, Inc. (NYSE:PLD - Get Free Report) shares hit a new 52-week low on Friday . The stock traded as low as $100.82 and last traded at $102.36, with a volume of 2065779 shares. The stock had previously closed at $101.40.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of research analyst reports. Scotiabank dropped their target price on shares of Prologis from $136.00 to $134.00 and set a "sector outperform" rating for the company in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a report on Wednesday, August 28th. Barclays boosted their target price on Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. Raymond James restated an "outperform" rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Finally, Truist Financial decreased their price objective on shares of Prologis from $137.00 to $132.00 and set a "buy" rating on the stock in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $128.88.

Prologis Price Performance

The company has a market capitalization of $95.69 billion, a price-to-earnings ratio of 31.21, a P/E/G ratio of 3.27 and a beta of 1.07. The company has a fifty day simple moving average of $115.04 and a two-hundred day simple moving average of $118.94. 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 (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.96 dividend. The ex-dividend date is Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.72%. Prologis's dividend payout ratio is presently 116.01%.

Hedge Funds Weigh In On Prologis

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Coronation Fund Managers Ltd. purchased a new position in shares of Prologis in the 2nd quarter worth $878,000. First Horizon Advisors Inc. raised its holdings in shares of Prologis by 63.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 619 shares of the real estate investment trust's stock worth $70,000 after purchasing an additional 240 shares during the period. &PARTNERS raised its holdings in shares of Prologis by 265.4% in the 2nd quarter. &PARTNERS now owns 8,741 shares of the real estate investment trust's stock worth $982,000 after purchasing an additional 6,349 shares during the period. Family Firm Inc. acquired a new position in shares of Prologis in the 2nd quarter valued at about $95,000. Finally, LRI Investments LLC grew its holdings in shares of Prologis by 844.6% during the 2nd quarter. LRI Investments LLC now owns 11,099 shares of the real estate investment trust's stock worth $1,247,000 after purchasing an additional 9,924 shares during the period. Institutional investors and hedge funds 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.