Prologis (NYSE:PLD) Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Prologis (NYSE:PLD - Free Report) from a sell rating to a hold rating in a report released on Friday morning.

Other equities research analysts have also recently issued reports about the company. Evercore ISI cut their target price 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. Truist Financial dropped their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Morgan Stanley reduced their price objective on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Robert W. Baird decreased their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Royal Bank of Canada dropped their target price on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. One equities 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $120.42.

Prologis Trading Up 0.4%

Shares of NYSE PLD traded up $0.48 during midday trading on Friday, hitting $109.23. 1,219,395 shares of the company traded hands, compared to its average volume of 4,724,083. Prologis has a 12-month low of $85.35 and a 12-month high of $132.57. The firm has a market cap of $101.36 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.70 and a beta of 1.25. The stock has a 50-day moving average price of $103.89 and a 200 day moving average price of $110.53. 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 (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The firm had revenue of $1.99 billion for 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%. As a group, analysts expect that Prologis will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.70%. Prologis's dividend payout ratio is currently 101.00%.

Institutional Investors Weigh In On Prologis

Several hedge funds and other institutional investors have recently made changes to their positions in PLD. REAP Financial Group LLC increased its holdings in 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 buying an additional 84 shares during the last quarter. Phoenix Financial Ltd. grew its position in shares of Prologis by 1.0% during the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after acquiring an additional 86 shares during the period. Principle Wealth Partners LLC increased its stake in shares of Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock worth $349,000 after purchasing an additional 92 shares in the last quarter. Black Diamond Financial LLC increased its stake in shares of Prologis by 2.2% in the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock worth $449,000 after purchasing an additional 93 shares in the last quarter. Finally, LaSalle St. Investment Advisors LLC raised its holdings in Prologis by 3.7% in 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 purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

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.