Shares of Prologis, Inc. (NYSE:PLD - Get Free Report) have received a consensus rating of "Moderate Buy" from the seventeen ratings firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $132.71.
A number of equities research analysts have recently weighed in on the company. Barclays cut their price target on Prologis from $142.00 to $131.00 and set an "overweight" rating for the company in a research note on Thursday, October 10th. The Goldman Sachs Group boosted their price objective on Prologis from $140.00 to $156.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Argus raised their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Scotiabank lifted their price objective on Prologis from $135.00 to $142.00 and gave the company a "sector outperform" rating in a report on Monday, August 26th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th.
View Our Latest Research Report on PLD
In related news, CIO Joseph Ghazal sold 5,200 shares of the business's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company's stock.
Hedge funds have recently added to or reduced their stakes in the business. Veracity Capital LLC grew its position in shares of Prologis by 5.2% in the third quarter. Veracity Capital LLC now owns 2,461 shares of the real estate investment trust's stock valued at $311,000 after purchasing an additional 121 shares during the last quarter. Wealth Alliance Advisory Group LLC boosted its position in shares of Prologis by 3.0% in the third quarter. Wealth Alliance Advisory Group LLC now owns 7,742 shares of the real estate investment trust's stock valued at $978,000 after acquiring an additional 228 shares during the period. Embree Financial Group bought a new position in Prologis during the third quarter worth about $218,000. TriaGen Wealth Management LLC acquired a new stake in Prologis in the 3rd quarter worth about $3,510,000. Finally, Raymond James & Associates grew its position in shares of Prologis by 26.1% during the 3rd quarter. Raymond James & Associates now owns 1,271,730 shares of the real estate investment trust's stock worth $160,594,000 after purchasing an additional 262,995 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.
PLD opened at $122.50 on Friday. The business has a fifty day simple moving average of $125.43 and a 200-day simple moving average of $117.72. The firm has a market cap of $113.42 billion, a PE ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.
Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the business earned $1.30 earnings per share. The business's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Prologis will post 5.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.13%. Prologis's dividend payout ratio (DPR) is 112.28%.
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.
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