Prologis, Inc. (NYSE:PLD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Prologis, Inc. (NYSE:PLD) has received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $133.35.

PLD has been the subject of several recent analyst reports. Wells Fargo & Company increased their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Bank of America reissued a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Truist Financial upped their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Barclays lifted their price objective on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group upped their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th.

Prologis Stock Performance

Shares of PLD opened at $126.28 on Tuesday. Prologis has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market cap of $116.92 billion, a price-to-earnings ratio of 36.92, a PEG ratio of 3.25 and a beta of 1.07. The business has a 50-day simple moving average of $125.82 and a two-hundred day simple moving average of $118.23.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.83 EPS. On average, analysts expect that Prologis will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given 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 yield of 3.04%. Prologis’s dividend payout ratio is presently 112.28%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Prologis

Several hedge funds and other institutional investors have recently modified their holdings of the business. Optimum Investment Advisors purchased a new stake in Prologis in the first quarter worth $26,000. American Capital Advisory LLC purchased a new position in Prologis in the 2nd quarter worth about $26,000. True Wealth Design LLC purchased a new position in Prologis in the 4th quarter worth about $27,000. Semmax Financial Advisors Inc. bought a new stake in Prologis during the 2nd quarter valued at about $27,000. Finally, Central Valley Advisors LLC purchased a new stake in Prologis in the 2nd quarter valued at about $29,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.