Prologis (NYSE:PLD) Downgraded by BMO Capital Markets to “Market Perform”

BMO Capital Markets cut shares of Prologis (NYSE:PLD) from an outperform rating to a market perform rating in a research report report published on Monday, MarketBeat reports. The firm currently has $112.00 price target on the real estate investment trust’s stock, down from their prior price target of $145.00.

Other equities analysts have also recently issued research reports about the company. TheStreet upgraded Prologis from a c+ rating to a b- rating in a report on Friday, January 26th. Raymond James lifted their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a strong-buy rating in a research report on Wednesday, January 24th. UBS Group cut their price objective on shares of Prologis from $151.00 to $138.00 and set a buy rating on the stock in a report on Thursday, April 18th. Robert W. Baird lifted their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a neutral rating in a report on Tuesday, January 23rd. Finally, Morgan Stanley upped their target price on shares of Prologis from $128.00 to $141.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $135.41.

Prologis Stock Performance

PLD stock opened at $104.06 on Monday. The stock has a market capitalization of $96.26 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. The company has a 50 day moving average price of $127.31 and a 200 day moving average price of $122.19. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

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 issued a dividend of $0.96 per share. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.69%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLD. Family Legacy Inc. lifted its position in Prologis by 0.5% in the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock valued at $2,217,000 after acquiring an additional 87 shares in the last quarter. Lockerman Financial Group Inc. lifted its holdings in shares of Prologis by 2.0% in the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after purchasing an additional 87 shares in the last quarter. Hixon Zuercher LLC boosted its position in shares of Prologis by 0.6% during the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after buying an additional 88 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of Prologis by 11.0% during the fourth quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 90 shares in the last quarter. Finally, CVA Family Office LLC raised its position in Prologis by 21.4% in the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 94 shares during 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 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.