Prologis (NYSE:PLD) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Prologis (NYSE:PLDFree Report) from a sell rating to a hold rating in a report issued on Monday.

Several other brokerages have also recently weighed in on PLD. JPMorgan Chase & Co. reduced their price target on Prologis from $143.00 to $128.00 and set an overweight rating on the stock in a research note on Thursday, April 25th. UBS Group dropped their target price on Prologis from $151.00 to $138.00 and set a buy rating on the stock in a report on Thursday, April 18th. Robert W. Baird dropped their target price on Prologis from $137.00 to $117.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Argus dropped their target price on Prologis from $139.00 to $120.00 and set a buy rating on the stock in a report on Monday, April 22nd. Finally, The Goldman Sachs Group dropped their target price on Prologis from $163.00 to $140.00 and set a buy rating on the stock in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has a consensus rating of Moderate Buy and an average price target of $131.12.

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Prologis Price Performance

Shares of PLD stock opened at $110.00 on Monday. The stock has a market cap of $101.84 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 2.24 and a beta of 1.05. The business’s fifty day moving average is $118.45 and its 200 day moving average is $122.17. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be given a $0.96 dividend. The ex-dividend date is Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.49%. Prologis’s payout ratio is 112.28%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Optimum Investment Advisors purchased a new position in Prologis in the first quarter worth about $26,000. True Wealth Design LLC bought a new position in shares of Prologis in the fourth quarter worth about $27,000. Thompson Investment Management Inc. bought a new position in shares of Prologis in the fourth quarter worth about $28,000. JFS Wealth Advisors LLC raised its stake in shares of Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 168 shares during the period. Finally, Clear Investment Research LLC raised its stake in shares of Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 158 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Company Profile

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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.

Further Reading

Analyst Recommendations for Prologis (NYSE:PLD)

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