Prologis, Inc. (NYSE:PLD) Sees Significant Increase in Short Interest

Prologis, Inc. (NYSE:PLD - Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 14,150,000 shares, a growth of 18.6% from the April 30th total of 11,930,000 shares. Currently, 1.5% of the company's shares are sold short. Based on an average trading volume of 5,170,000 shares, the days-to-cover ratio is presently 2.7 days.

Prologis Price Performance

Shares of NYSE PLD traded up $1.15 during trading hours on Friday, hitting $108.97. 1,633,977 shares of the stock were exchanged, compared to its average volume of 4,142,364. The company's fifty day simple moving average is $103.73 and its two-hundred day simple moving average is $110.46. The company has a market cap of $101.12 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis has a 1-year low of $85.35 and a 1-year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, sell-side analysts predict that Prologis will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's payout ratio is 101.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays reduced their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Wall Street Zen raised shares of Prologis from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Evercore ISI lowered their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Finally, Robert W. Baird cut their price objective on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.42.

Institutional Trading of Prologis

A number of hedge funds and other institutional investors have recently modified their holdings of PLD. REAP Financial Group LLC raised its position in Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 84 shares during the last quarter. Phoenix Financial Ltd. raised its holdings in Prologis by 1.0% in the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after buying an additional 86 shares during the last quarter. Principle Wealth Partners LLC boosted its position in Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock worth $349,000 after buying an additional 92 shares during the period. Black Diamond Financial LLC grew its holdings in Prologis by 2.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock worth $449,000 after acquiring an additional 93 shares during the last quarter. Finally, LaSalle St. Investment Advisors LLC grew its holdings in Prologis by 3.7% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock worth $300,000 after acquiring an additional 96 shares during the last quarter. 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.