Prologis (NYSE:PLD) Shares Gap Down After Analyst Downgrade

Prologis, Inc. (NYSE:PLD - Get Free Report)'s stock price gapped down prior to trading on Wednesday after Barclays lowered their price target on the stock from $141.00 to $135.00. The stock had previously closed at $114.74, but opened at $108.70. Barclays currently has an overweight rating on the stock. Prologis shares last traded at $105.89, with a volume of 7,918,996 shares.

Several other research analysts also recently commented on PLD. Mizuho reiterated a "neutral" rating and issued a $130.00 price objective on shares of Prologis in a report on Tuesday, April 2nd. TheStreet raised Prologis from a "c+" rating to a "b-" rating in a research note on Friday, January 26th. Robert W. Baird lifted their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 23rd. Morgan Stanley upped their price target on shares of Prologis from $128.00 to $141.00 and gave the company an "overweight" rating in a report on Wednesday, January 24th. Finally, Royal Bank of Canada raised their price target on shares of Prologis from $128.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $141.27.

Institutional Trading of Prologis

Institutional investors and hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in shares of Prologis by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust's stock valued at $1,853,633,000 after acquiring an additional 1,034,211 shares in the last quarter. FMR LLC increased its holdings in shares of Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust's stock worth $1,820,577,000 after purchasing an additional 197,693 shares in the last quarter. Morgan Stanley increased its holdings in shares of Prologis by 48.0% in the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust's stock worth $1,643,359,000 after purchasing an additional 4,729,040 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Prologis by 3.5% during the fourth quarter. Nuveen Asset Management LLC now owns 13,797,149 shares of the real estate investment trust's stock valued at $1,839,160,000 after buying an additional 460,516 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Prologis by 12.4% in the 4th quarter. Legal & General Group Plc now owns 13,567,343 shares of the real estate investment trust's stock worth $1,808,527,000 after buying an additional 1,500,199 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 7.2 %

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $98.51 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 2.31 and a beta of 1.00. The stock has a 50-day simple moving average of $129.44 and a two-hundred day simple moving average of $122.30.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The company had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.61%. This is a boost from Prologis's previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis's payout ratio is presently 116.72%.

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.