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

Prologis, Inc. (NYSE:PLD - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $95.59 and last traded at $96.05, with a volume of 745361 shares changing hands. The stock had previously closed at $101.59.

Analysts Set New Price Targets

Several research firms have recently issued reports on PLD. Truist Financial increased their target price on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Scotiabank reiterated a "sector underperform" rating and set a $97.00 price objective (down from $133.00) on shares of Prologis in a research note on Monday. UBS Group raised their target price on shares of Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Raymond James restated a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. Finally, Mizuho dropped their target price on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $126.78.

Prologis Price Performance

The firm has a market cap of $88.28 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The business's 50-day simple moving average is $115.10 and its two-hundred day simple moving average is $114.79.

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Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a $1.01 dividend. This is a positive change from Prologis's previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 4.24%. Prologis's payout ratio is presently 101.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction dated 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 transaction, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.56% of the company's stock.

Hedge Funds Weigh In On Prologis

Several institutional investors have recently added to or reduced their stakes in PLD. REAP Financial Group LLC lifted its position in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 84 shares during the period. Phoenix Financial Ltd. grew its stake in shares of Prologis by 1.0% in the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after buying an additional 86 shares during the period. Principle Wealth Partners LLC increased its position in Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock valued at $349,000 after buying an additional 92 shares in the last quarter. Black Diamond Financial LLC raised its stake in Prologis by 2.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock worth $449,000 after buying an additional 93 shares during the period. Finally, Berkshire Bank boosted its holdings in Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock worth $443,000 after acquiring an additional 95 shares in the last quarter. 93.50% of the stock is 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.