Raymond James Reaffirms Market Perform Rating for Prologis (NYSE:PLD)

Raymond James reissued their market perform rating on shares of Prologis (NYSE:PLD) in a research note released on Monday, MarketBeat Ratings reports.

Several other brokerages have also recently weighed in on PLD. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. UBS Group increased their target price 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. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Trading Down 1.2 %

NYSE PLD opened at $117.88 on Monday. The company has a market cap of $109.17 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09. Prologis has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The business’s fifty day moving average is $111.03 and its 200 day moving average is $118.37.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.26%. Prologis’s payout ratio is presently 96.00%.

Institutional Investors Weigh In On Prologis

A number of large investors have recently added to or reduced their stakes in PLD. Dunhill Financial LLC lifted its position in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the 4th quarter valued at $30,000. Hara Capital LLC bought a new position in shares of Prologis during the 3rd quarter valued at $48,000. Coastline Trust Co purchased a new position in Prologis in the 3rd quarter worth $52,000. Finally, Fortitude Family Office LLC lifted its stake in Prologis by 120.6% in the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the last quarter. Hedge funds and other institutional investors 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 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.