Prologis (NYSE:PLD) Shares Gap Down on Analyst Downgrade

Shares of Prologis, Inc. (NYSE:PLD) gapped down prior to trading on Wednesday after UBS Group lowered their price target on the stock from $151.00 to $138.00. The stock had previously closed at $114.74, but opened at $108.70. UBS Group currently has a buy rating on the stock. Prologis shares last traded at $105.89, with a volume of 7,918,996 shares traded.

A number of other equities research analysts also recently issued reports on PLD. Raymond James increased their price objective on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Evercore ISI lowered their price objective on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday. Royal Bank of Canada raised their price target on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, Barclays lowered their price target on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BOKF NA grew its stake in shares of Prologis by 3.8% during the fourth quarter. BOKF NA now owns 2,125 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 77 shares during the last quarter. CreativeOne Wealth LLC grew its stake in shares of Prologis by 1.5% in the second quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust’s stock worth $680,000 after purchasing an additional 82 shares during the last quarter. SevenOneSeven Capital Management grew its stake in shares of Prologis by 2.3% in the fourth quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust’s stock worth $427,000 after purchasing an additional 86 shares during the last quarter. Family Legacy Inc. grew its stake in shares of Prologis by 0.5% in the fourth quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after purchasing an additional 87 shares during the last quarter. Finally, Lockerman Financial Group Inc. grew its stake in shares of Prologis by 2.0% in the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after purchasing an additional 87 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Stock Down 1.7 %

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $96.82 billion, a P/E ratio of 31.81, a PEG ratio of 2.29 and a beta of 1.00. The company has a 50 day moving average of $128.45 and a 200-day moving average of $122.07.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 earnings per share. As a group, equities analysts anticipate that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.67%. Prologis’s dividend payout ratio (DPR) is presently 116.72%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.