Prologis, Inc. (NYSE:PLD) Declares $0.96 Quarterly Dividend

Prologis, Inc. (NYSE:PLD) announced a quarterly dividend on Wednesday, December 4th,RTT News reports. Stockholders of record on Monday, December 16th will be given a dividend of 0.96 per share by the real estate investment trust on Tuesday, December 31st. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.34%.

Prologis has increased its dividend payment by an average of 14.5% per year over the last three years and has increased its dividend every year for the last 11 years. Prologis has a payout ratio of 128.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Prologis to earn $5.88 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 65.3%.

Prologis Stock Performance

PLD opened at $115.05 on Thursday. The business’s 50 day moving average is $118.07 and its 200-day moving average is $118.84. The stock has a market cap of $106.56 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 3.39 and a beta of 1.07. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis has a twelve month low of $101.11 and a twelve month high of $137.52.

Prologis (NYSE:PLD) 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 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the firm earned $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts predict that Prologis will post 5.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Morgan Stanley lifted their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lowered their price objective 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 lowered their price objective on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday. Finally, Barclays lifted their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $131.13.

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.