Prologis (NYSE:PLD) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Prologis (NYSE:PLD) from a sell rating to a hold rating in a research report report published on Wednesday.

A number of other research analysts have also recently issued reports on the company. BMO Capital Markets cut Prologis from an outperform rating to a market perform rating and reduced their price objective for the company from $145.00 to $112.00 in a research note on Monday, April 22nd. Scotiabank lowered their price objective on Prologis from $149.00 to $130.00 and set a sector outperform rating for the company in a research report on Thursday, May 16th. Royal Bank of Canada dropped their price objective on Prologis from $145.00 to $124.00 and set an outperform rating for the company in a research note on Monday, May 6th. Robert W. Baird decreased their target price on shares of Prologis from $137.00 to $117.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Finally, UBS Group dropped their price target on shares of Prologis from $151.00 to $138.00 and set a buy rating for the company in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $130.35.

Prologis Trading Down 1.2 %

Shares of PLD opened at $109.22 on Wednesday. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The firm has a market cap of $101.12 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 2.33 and a beta of 1.05. The firm has a 50 day moving average price of $115.68 and a 200-day moving average price of $122.38. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.52%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Institutional Trading of Prologis

Hedge funds have recently bought and sold shares of the stock. Columbia Trust Co 01012016 increased its holdings in Prologis by 16.0% in the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after acquiring an additional 723 shares in the last quarter. Janney Capital Management LLC increased its stake in Prologis by 18.8% in the 4th quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock worth $3,182,000 after buying an additional 3,773 shares in the last quarter. Cyndeo Wealth Partners LLC raised its holdings in Prologis by 39.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after acquiring an additional 11,882 shares during the period. DNB Asset Management AS lifted its position in shares of Prologis by 17.1% in the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after acquiring an additional 42,073 shares in the last quarter. Finally, Grassi Investment Management boosted its stake in shares of Prologis by 31.8% in the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after acquiring an additional 60,900 shares during the period. Institutional investors own 93.50% of the company’s stock.

About Prologis

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.