Prologis, Inc. (NYSE:PLD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Prologis, Inc. (NYSE:PLD) have earned an average rating of “Moderate Buy” from the twenty ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $126.78.

A number of brokerages have weighed in on PLD. Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Wolfe Research lowered their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. UBS Group boosted their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Mizuho reduced their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Institutional Trading of Prologis

A number of large investors have recently made changes to their positions in PLD. Cohen & Steers Inc. grew its position in Prologis by 3.2% in the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock worth $2,994,557,000 after acquiring an additional 882,529 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock valued at $2,252,853,000 after purchasing an additional 610,251 shares during the last quarter. FMR LLC lifted its stake in shares of Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Prologis by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock worth $1,754,282,000 after purchasing an additional 334,907 shares during the period. Finally, Northern Trust Corp increased its position in shares of Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Up 2.0 %

PLD stock opened at $100.46 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a market capitalization of $93.12 billion, a price-to-earnings ratio of 25.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The business’s 50 day moving average price is $112.19 and its two-hundred day moving average price is $113.59.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is 101.00%.

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.