Prologis, Inc. (PLD) To Go Ex-Dividend on September 14th

Prologis, Inc. (NYSE:PLDGet Rating) announced a quarterly dividend on Thursday, September 1st, RTT News reports. Stockholders of record on Thursday, September 15th will be given a dividend of 0.79 per share by the real estate investment trust on Friday, September 30th. This represents a $3.16 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Wednesday, September 14th.

Prologis has increased its dividend by an average of 9.5% per year over the last three years and has increased its dividend annually for the last 9 consecutive years. Prologis has a dividend payout ratio of 83.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Prologis to earn $5.76 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 54.9%.

Prologis Price Performance

NYSE:PLD opened at $121.89 on Friday. The firm has a market cap of $90.24 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87. The company’s 50-day moving average price is $127.01 and its two-hundred day moving average price is $138.20. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.46. Prologis has a 12 month low of $106.46 and a 12 month high of $174.54.

Prologis (NYSE:PLDGet Rating) last announced its earnings results on Monday, July 18th. The real estate investment trust reported $0.82 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.30). Prologis had a return on equity of 9.85% and a net margin of 75.72%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, equities analysts anticipate that Prologis will post 5.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on PLD shares. Jefferies Financial Group reduced their price target on shares of Prologis from $174.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. Barclays decreased their price target on shares of Prologis from $190.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, July 21st. Wells Fargo & Company boosted their price objective on shares of Prologis from $160.00 to $163.00 and gave the stock an “overweight” rating in a research report on Thursday, August 11th. Truist Financial decreased their price objective on Prologis from $166.00 to $162.00 and set a “na” rating on the stock in a research report on Monday, May 16th. Finally, Evercore ISI set a $134.00 target price on Prologis in a research report on Tuesday, July 19th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Prologis currently has a consensus rating of “Buy” and a consensus price target of $173.38.

Institutional Investors Weigh In On Prologis

A number of hedge funds and other institutional investors have recently made changes to their positions in PLD. Sequoia Financial Advisors LLC lifted its stake in Prologis by 87.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock valued at $546,000 after acquiring an additional 1,580 shares in the last quarter. RB Capital Management LLC boosted its stake in shares of Prologis by 14.7% during the 1st quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock worth $485,000 after acquiring an additional 385 shares during the period. Nations Financial Group Inc. IA ADV bought a new position in shares of Prologis in the first quarter valued at about $459,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Prologis by 22.7% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,501 shares of the real estate investment trust’s stock worth $404,000 after acquiring an additional 462 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its stake in Prologis by 38.8% in the 1st quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock valued at $336,000 after purchasing an additional 581 shares during the period. 94.01% of the stock is currently owned by institutional investors and hedge funds.

About Prologis

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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

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Dividend History for Prologis (NYSE:PLD)

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