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

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

A number of research analysts have recently weighed in on PLD shares. Scotiabank cut their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Truist Financial increased their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Robert W. Baird raised their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group increased their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred 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 sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Prologis

Several hedge funds have recently made changes to their positions in PLD. Fairtree Asset Management Pty Ltd bought a new position in Prologis in the fourth quarter valued at $1,481,000. 111 Capital bought a new stake in Prologis during the 4th quarter worth about $454,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Prologis by 9.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 50,754 shares of the real estate investment trust’s stock worth $5,365,000 after buying an additional 4,544 shares during the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of Prologis by 7.3% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 33,698 shares of the real estate investment trust’s stock valued at $3,562,000 after acquiring an additional 2,297 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Prologis in the fourth quarter valued at about $32,910,000. 93.50% of the stock is owned by institutional investors.

Prologis Trading Down 3.4 %

Shares of NYSE PLD opened at $108.27 on Tuesday. Prologis has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The firm has a market capitalization of $100.35 billion, a P/E ratio of 27.07, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company’s 50 day simple moving average is $117.54 and its 200 day simple moving average is $116.99.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.73%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

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.