Prologis (NYSE:PLD) Rating Increased to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Prologis (NYSE:PLD) from a neutral rating to an outperform rating in a report published on Monday morning, Marketbeat.com reports. The firm currently has $123.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $124.00.

A number of other research analysts have also commented on the company. Barclays raised their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. JPMorgan Chase & Co. dropped their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Scotiabank decreased their price objective on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. Truist Financial lowered their price objective on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Finally, Evercore ISI upped their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.06.

Prologis Trading Down 1.0 %

Prologis stock opened at $105.53 on Monday. Prologis has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $97.74 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 3.27 and a beta of 1.09. The firm has a 50-day moving average price of $111.28 and a two-hundred day moving average price of $118.53.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that Prologis will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is 116.01%.

Institutional Investors Weigh In On Prologis

Large investors have recently made changes to their positions in the company. Coronation Fund Managers Ltd. purchased a new stake in shares of Prologis in the second quarter valued at $878,000. MainStreet Investment Advisors LLC purchased a new stake in Prologis in the 2nd quarter worth about $538,000. Caprock Group LLC boosted its position in Prologis by 23.8% during the 2nd quarter. Caprock Group LLC now owns 13,990 shares of the real estate investment trust’s stock worth $1,571,000 after acquiring an additional 2,687 shares during the period. Arbor Capital Management Inc. ADV grew its stake in Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after acquiring an additional 87 shares in the last quarter. Finally, First Foundation Advisors grew its stake in Prologis by 1,873.9% during the 2nd quarter. First Foundation Advisors now owns 38,866 shares of the real estate investment trust’s stock valued at $4,365,000 after acquiring an additional 36,897 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.