Prologis (NYSE:PLD) Upgraded to Strong-Buy at BNP Paribas

BNP Paribas upgraded shares of Prologis (NYSE:PLD - Free Report) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on PLD. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Scotiabank lowered their price target on Prologis from $136.00 to $134.00 and set a "sector outperform" rating for the company in a research report on Wednesday, December 4th. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $128.67.

Prologis Trading Up 0.3 %

Shares of PLD stock traded up $0.36 on Wednesday, reaching $118.90. 4,165,829 shares of the company's stock were exchanged, compared to its average volume of 4,862,321. Prologis has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $110.12 billion, a PE ratio of 29.73, a P/E/G ratio of 3.19 and a beta of 1.09. The company's fifty day simple moving average is $110.38 and its 200 day simple moving average is $118.34.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Monday, December 16th. Prologis's dividend payout ratio (DPR) is 96.00%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 valued at $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust's stock valued at $456,320,000 after acquiring an additional 2,138,693 shares in the last quarter. AMF Tjanstepension AB raised its stake in shares of Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock valued at $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Prologis by 547.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust's stock valued at $116,129,000 after acquiring an additional 874,411 shares in the last quarter. Finally, Cardano Risk Management B.V. acquired a new stake in shares of Prologis in the third quarter valued at $109,579,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.