Royal Bank of Canada Issues Pessimistic Forecast for Prologis (NYSE:PLD) Stock Price

Prologis (NYSE:PLD) had its price objective trimmed by Royal Bank of Canada from $128.00 to $117.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on PLD. Robert W. Baird upped their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $122.74.

Prologis Stock Down 0.1 %

Shares of PLD opened at $103.17 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The stock has a market cap of $95.63 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 2.70 and a beta of 1.20. Prologis has a 12 month low of $85.35 and a 12 month high of $132.57. The company has a 50-day moving average price of $108.76 and a two-hundred day moving average price of $112.29.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Equities analysts predict that Prologis will post 5.73 EPS for the current fiscal year.

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 $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s payout ratio is currently 101.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Prologis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp bought a new stake in Prologis during the fourth quarter worth $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in Prologis in the fourth quarter valued at approximately $30,000. REAP Financial Group LLC boosted its stake in shares of Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 84 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in Prologis during the 4th quarter worth about $34,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.