Prologis, Inc. (NYSE:PLD – Get Free Report)’s stock price gapped down before the market opened on Wednesday after UBS Group lowered their price target on the stock from $151.00 to $138.00. The stock had previously closed at $114.74, but opened at $108.70. UBS Group currently has a buy rating on the stock. Prologis shares last traded at $105.89, with a volume of 7,918,996 shares traded.
Several other brokerages have also weighed in on PLD. Royal Bank of Canada lifted their price objective on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Evercore ISI lowered their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday. Morgan Stanley upped their price target on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Barclays lowered their price target on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird upped their price target on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.00.
Check Out Our Latest Analysis on PLD
Hedge Funds Weigh In On Prologis
Prologis Stock Down 1.7 %
The firm has a 50 day simple moving average of $128.45 and a two-hundred day simple moving average of $122.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market cap of $96.82 billion, a price-to-earnings ratio of 31.81, a price-to-earnings-growth ratio of 2.29 and a beta of 1.00.
Prologis (NYSE:PLD – Get Free Report) last released its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company posted $1.24 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that Prologis, Inc. will post 5.5 EPS for the current year.
Prologis Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.67%. Prologis’s dividend payout ratio is presently 116.72%.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.
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