Prologis (NYSE:PLD) Upgraded to “Strong-Buy” at BNP Paribas

BNP Paribas upgraded shares of Prologis (NYSE:PLD) to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

PLD has been the topic of several other reports. Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. decreased their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Truist Financial lowered their price target on shares of Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, Mizuho cut their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Stock Up 2.8 %

Shares of PLD opened at $118.38 on Wednesday. The firm has a 50 day simple moving average of $110.31 and a two-hundred day simple moving average of $118.33. The company has a market cap of $109.64 billion, a P/E ratio of 29.59, a P/E/G ratio of 3.25 and a beta of 1.09. Prologis has a one year low of $100.82 and a one year high of $135.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Institutional Trading of Prologis

Several institutional investors and hedge funds have recently modified their holdings of the stock. Empirical Asset Management LLC raised its position in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 52,963 shares during the last quarter. Sunflower Bank N.A. purchased a new position in Prologis during the third quarter worth about $249,000. Cardano Risk Management B.V. grew its position in Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new stake in Prologis in the 2nd quarter valued at about $878,000. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Prologis by 2.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after buying an additional 29,400 shares in the last quarter. 93.50% of the stock is 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.