Prologis (NYSE:PLD) Stock Rating Upgraded by Baird R W

Baird R W upgraded shares of Prologis (NYSE:PLD) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $124.00 to $123.00 in a research report on Monday. Evercore ISI raised their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Scotiabank reduced their price objective on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. Barclays lifted their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. decreased their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.06.

Prologis Stock Down 1.0 %

Prologis stock opened at $105.53 on Monday. The firm has a market capitalization of $97.74 billion, a price-to-earnings ratio of 31.88, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The firm’s fifty day moving average price is $111.28 and its two-hundred day moving average price is $118.53. Prologis has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 EPS. On average, equities research analysts predict that Prologis will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Institutional Investors Weigh In On Prologis

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the 2nd quarter valued at $27,000. Dunhill Financial LLC increased its holdings in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the period. Sunbelt Securities Inc. lifted its stake in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Prologis in the 2nd quarter valued at $31,000. Finally, Hara Capital LLC bought a new position in Prologis in the 3rd quarter valued at $48,000. 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.