Prologis (NYSE:PLD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Prologis (NYSE:PLD) from a sell rating to a hold rating in a research note released on Friday.

Other research analysts have also recently issued reports about the stock. Evercore ISI lowered their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday, April 17th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Mizuho lowered their price objective on Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Royal Bank of Canada lowered their price objective on Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 29th. Finally, Wolfe Research lowered shares of Prologis from an “outperform” rating to a “peer perform” rating in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $120.42.

Prologis Stock Down 0.5%

PLD opened at $108.64 on Friday. Prologis has a 1-year low of $85.35 and a 1-year high of $132.57. The stock’s fifty day simple moving average is $103.94 and its 200 day simple moving average is $110.56. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market cap of $100.81 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. As a group, research analysts expect that Prologis will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.72%. Prologis’s dividend payout ratio (DPR) is 101.00%.

Hedge Funds Weigh In On Prologis

Hedge funds and other institutional investors have recently modified their holdings of the business. Murphy & Mullick Capital Management Corp acquired a new position in Prologis during the fourth quarter worth about $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis during the 4th quarter valued at approximately $27,000. Activest Wealth Management grew its holdings in shares of Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 223 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Prologis during the 4th quarter valued at approximately $30,000. Finally, REAP Financial Group LLC grew its holdings in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 84 shares during the last quarter. 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 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.