Prologis, Inc. (NYSE:PLD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Prologis, Inc. (NYSE:PLD) have been assigned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $126.8824.

Several research firms have recently issued reports on PLD. Evercore ISI upped their price objective on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Scotiabank boosted their target price on shares of Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a research report on Monday, November 10th. Industrial Alliance Securities set a $119.00 price target on shares of Prologis in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Prologis in a report on Monday. Finally, Truist Financial reissued a “buy” rating and set a $131.00 price objective (up from $120.00) on shares of Prologis in a report on Monday, October 20th.

Insider Buying and Selling

In other news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the sale, the director owned 8,208 shares of the company’s stock, valued at $1,047,340.80. This trade represents a 7.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,621 shares of company stock worth $198,655 over the last quarter. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prologis

A number of institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Prologis by 0.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 16,583 shares of the real estate investment trust’s stock valued at $1,941,000 after acquiring an additional 82 shares during the last quarter. Foster Dykema Cabot & Partners LLC increased its position in shares of Prologis by 1.0% during the third quarter. Foster Dykema Cabot & Partners LLC now owns 8,232 shares of the real estate investment trust’s stock worth $943,000 after purchasing an additional 83 shares in the last quarter. Cornerstone Advisory LLC raised its stake in Prologis by 2.4% in the 3rd quarter. Cornerstone Advisory LLC now owns 3,535 shares of the real estate investment trust’s stock valued at $405,000 after purchasing an additional 84 shares during the last quarter. Cadence Bank lifted its holdings in Prologis by 2.1% in the 3rd quarter. Cadence Bank now owns 4,209 shares of the real estate investment trust’s stock valued at $482,000 after purchasing an additional 87 shares in the last quarter. Finally, Clear Investment Research LLC lifted its holdings in Prologis by 34.5% in the 3rd quarter. Clear Investment Research LLC now owns 343 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.9%

NYSE:PLD opened at $128.94 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. Prologis has a 1-year low of $85.35 and a 1-year high of $131.70. The company has a 50-day moving average of $126.36 and a 200 day moving average of $115.79. The firm has a market cap of $119.77 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 3.92 and a beta of 1.40.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. The business had revenue of $2.21 billion for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. As a group, research analysts anticipate that Prologis will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, December 16th. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.