Prologis (NYSE:PLD) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Prologis (NYSE:PLD) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Several other research analysts also recently issued reports on PLD. The Goldman Sachs Group dropped their price objective on shares of Prologis from $163.00 to $140.00 and set a buy rating on the stock in a report on Monday. UBS Group dropped their price objective on shares of Prologis from $151.00 to $138.00 and set a buy rating on the stock in a report on Thursday, April 18th. TheStreet upgraded shares of Prologis from a c+ rating to a b- rating in a report on Friday, January 26th. Argus dropped their price objective on shares of Prologis from $139.00 to $120.00 and set a buy rating on the stock in a report on Monday. Finally, Raymond James boosted their price objective on shares of Prologis from $130.00 to $145.00 and gave the stock a strong-buy rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $135.41.

Prologis Stock Performance

Shares of PLD opened at $103.18 on Wednesday. The company has a market capitalization of $95.45 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Prologis has a one year low of $96.64 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. The company’s fifty day moving average price is $126.24 and its 200 day moving average price is $122.03.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.72%. Prologis’s payout ratio is 112.28%.

Hedge Funds Weigh In On Prologis

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC lifted its position in shares of Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Massachusetts Financial Services Co. MA lifted 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 worth $1,853,633,000 after purchasing an additional 1,034,211 shares in the last quarter. FMR LLC lifted its position in shares of Prologis by 1.2% during the third 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. Northern Trust Corp lifted its position in shares of Prologis by 0.7% during the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after purchasing an additional 92,036 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Prologis by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after purchasing an additional 365,904 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

About Prologis

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.