Prologis, Inc. Announces Quarterly Dividend of $0.96 (NYSE:PLD)

Prologis, Inc. (NYSE:PLD) declared a quarterly dividend on Thursday, May 9th, RTT News reports. Shareholders of record on Monday, June 17th will be given a dividend of 0.96 per share by the real estate investment trust on Friday, June 28th. This represents a $3.84 dividend on an annualized basis and a yield of 3.55%.

Prologis has increased its dividend payment by an average of 14.5% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Prologis has a payout ratio of 122.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Prologis to earn $6.11 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 62.8%.

Prologis Trading Up 2.1 %

NYSE PLD opened at $108.15 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The stock’s 50-day moving average is $120.50 and its 200-day moving average is $121.78. Prologis has a one year low of $96.64 and a one year high of $137.52. The firm has a market cap of $100.13 billion, a P/E ratio of 31.62, a P/E/G ratio of 2.20 and a beta of 1.05.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLD. JPMorgan Chase & Co. reduced their price target on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Evercore ISI reduced their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. Argus dropped their price target on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Royal Bank of Canada reduced their price objective on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Barclays dropped their target price on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Company Profile

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.