Prologis’ (PLD) “Neutral” Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group restated their neutral rating on shares of Prologis (NYSE:PLD) in a report published on Monday, Marketbeat reports. They currently have a $132.00 target price on the real estate investment trust’s stock, down from their previous target price of $142.00.

PLD has been the subject of a number of other reports. Scotiabank boosted their target price on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Wells Fargo & Company upped their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Argus boosted their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Barclays dropped their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $131.47.

Prologis Stock Performance

Prologis stock opened at $120.82 on Monday. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a market capitalization of $111.86 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The firm’s fifty day moving average price is $125.26 and its 200 day moving average price is $117.54.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 EPS. On average, research analysts forecast that Prologis will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.18%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is 112.28%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Prologis

A number of hedge funds have recently made changes to their positions in PLD. American Capital Advisory LLC bought a new stake in Prologis during the 2nd quarter worth about $26,000. Semmax Financial Advisors Inc. acquired a new stake in Prologis during the 2nd quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis in the second quarter valued at approximately $29,000. Sunbelt Securities Inc. raised its holdings in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis in the second quarter valued at approximately $31,000. 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 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.