Prologis (NYSE:PLD) Downgraded by Wall Street Zen to "Sell"

Wall Street Zen downgraded shares of Prologis (NYSE:PLD - Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Other equities analysts have also recently issued reports about the company. Robert W. Baird reduced their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Evercore ISI reduced their price objective on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Mizuho reduced their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Royal Bank Of Canada reduced their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company reduced their price objective on Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average price target of $120.42.

Prologis Stock Down 1.7%

Shares of Prologis stock traded down $1.79 on Friday, hitting $105.03. 3,068,107 shares of the company's stock traded hands, compared to its average volume of 4,125,917. The stock has a market cap of $97.46 billion, a P/E ratio of 26.26, a PEG ratio of 2.71 and a beta of 1.25. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. The firm's 50-day moving average is $105.09 and its 200 day moving average is $109.95. Prologis has a 52-week low of $85.35 and a 52-week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. Equities analysts anticipate that Prologis will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is 101.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis during the fourth quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis during the fourth quarter valued at $27,000. Activest Wealth Management increased its holdings in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 223 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Prologis during the fourth quarter valued at $30,000. Finally, REAP Financial Group LLC increased its holdings in shares of Prologis by 40.0% during 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 period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Company Profile

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.