Prologis (NYSE:PLD) Now Covered by Analysts at Citigroup

Citigroup initiated coverage on shares of Prologis (NYSE:PLD) in a research report report published on Thursday morning. The brokerage issued a buy rating and a $145.00 price objective on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group upped their target price on shares of Prologis from $137.00 to $148.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Argus upped their price objective on shares of Prologis from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Scotiabank upgraded shares of Prologis from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $133.00 to $146.00 in a report on Wednesday, January 14th. Evercore boosted their target price on Prologis from $118.00 to $121.00 and gave the stock an “in-line” rating in a report on Thursday, January 22nd. Finally, Truist Financial dropped their price target on Prologis from $142.00 to $139.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.20.

Prologis Price Performance

NYSE:PLD opened at $137.73 on Thursday. The stock has a 50 day moving average of $133.84 and a two-hundred day moving average of $125.15. Prologis has a 12 month low of $85.35 and a 12 month high of $143.95. The firm has a market cap of $128.03 billion, a P/E ratio of 38.80, a price-to-earnings-growth ratio of 3.45 and a beta of 1.41. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, January 21st. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.44. Prologis had a return on equity of 5.79% and a net margin of 37.86%.The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts expect that Prologis will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, March 17th. This is a boost from Prologis’s previous quarterly dividend of $1.01. Prologis’s dividend payout ratio is presently 113.80%.

Institutional Investors Weigh In On Prologis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Prologis by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 123,323,290 shares of the real estate investment trust’s stock worth $15,743,451,000 after purchasing an additional 1,258,407 shares during the last quarter. State Street Corp boosted its stake in Prologis by 1.9% during the second quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock worth $6,164,325,000 after buying an additional 1,088,544 shares during the period. Geode Capital Management LLC increased its position in shares of Prologis by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 23,012,940 shares of the real estate investment trust’s stock valued at $2,925,791,000 after acquiring an additional 339,906 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Prologis by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock valued at $1,735,205,000 after acquiring an additional 253,338 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Prologis by 4.4% in the 4th quarter. Capital Research Global Investors now owns 16,061,390 shares of the real estate investment trust’s stock valued at $2,050,397,000 after acquiring an additional 678,363 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

About Prologis

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.