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

Shares of Prologis, Inc. (NYSE:PLD) have received a consensus rating of “Moderate Buy” from the twenty ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, eleven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $128.78.

A number of equities analysts have recently weighed in on the company. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. UBS Group boosted their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada raised their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. BTIG Research decreased their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, 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 report on Thursday, January 30th.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Empirical Asset Management LLC lifted its holdings in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. raised its position in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after purchasing an additional 25,266 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Prologis by 2.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after purchasing an additional 29,400 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in shares of Prologis during the 3rd quarter valued at approximately $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Prologis in the 3rd quarter worth approximately $7,371,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock opened at $122.91 on Friday. The business has a 50-day simple moving average of $113.87 and a 200 day simple moving average of $118.05. The firm has a market capitalization of $113.92 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis has a one year low of $100.82 and a one year high of $135.76.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.29%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is presently 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.