Prologis (NYSE:PLD) Now Covered by StockNews.com

Posted by Defense World Staff on Oct 9th, 2023

StockNews.com initiated coverage on shares of Prologis (NYSE:PLD – Free Report) in a research note released on Thursday. The firm issued a hold rating on the real estate investment trust’s stock.

A number of other brokerages have also recently weighed in on PLD. BTIG Research lifted their price objective on shares of Prologis from $152.00 to $154.00 in a report on Wednesday, July 19th. BNP Paribas upgraded shares of Prologis from a neutral rating to an outperform rating and set a $141.00 price objective for the company in a research report on Thursday, July 20th. 888 restated a maintains rating on shares of Prologis in a research report on Wednesday, June 28th. Mizuho reiterated a buy rating and issued a $140.00 price target on shares of Prologis in a research report on Wednesday, September 13th. Finally, Morgan Stanley reiterated an overweight rating and issued a $128.00 price target on shares of Prologis in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $139.95.

View Our Latest Stock Analysis on Prologis

Prologis Stock Down 0.1 %

Shares of NYSE PLD opened at $108.91 on Thursday. The company’s 50-day simple moving average is $120.02 and its 200-day simple moving average is $122.02. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The firm has a market cap of $100.62 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 2.17 and a beta of 0.99. Prologis has a 52-week low of $98.03 and a 52-week high of $136.67.

Prologis (NYSE:PLD – Get Free Report) last posted its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.15. Prologis had a net margin of 42.52% and a return on equity of 6.17%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm posted $1.11 earnings per share. The company’s revenue for the quarter was up 95.8% on a year-over-year basis. Equities analysts predict that Prologis will post 5.59 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Friday, September 15th. Prologis’s dividend payout ratio is currently 91.58%.

Insiders Place Their Bets

In other Prologis news, Director George L. Fotiades sold 10,711 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $123.98, for a total value of $1,327,949.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prologis

A number of institutional investors have recently bought and sold shares of the stock. RB Capital Management LLC grew its stake in shares of Prologis by 14.7% in the 1st quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 385 shares in the last quarter. Blair William & Co. IL grew its position in Prologis by 5.3% in the first quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock valued at $3,490,000 after acquiring an additional 1,092 shares during the period. Sequoia Financial Advisors LLC grew its position in Prologis by 87.7% in the first quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock valued at $546,000 after acquiring an additional 1,580 shares during the period. Baird Financial Group Inc. increased its stake in shares of Prologis by 41.8% in the first quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock valued at $38,952,000 after buying an additional 71,112 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its stake in shares of Prologis by 38.8% in the first quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock valued at $336,000 after buying an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 90.90% of the company’s stock.

Prologis Company Profile

(Get Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At June 30, 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 (114 million square meters) in 19 countries.