Prologis, Inc. (NYSE:PLD) Announces Quarterly Dividend of $0.96

Prologis, Inc. (NYSE:PLDGet Free Report) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Shareholders of record on Monday, June 17th will be paid a dividend of 0.96 per share by the real estate investment trust on Friday, June 28th. This represents a $3.84 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Monday, June 17th.

Prologis has raised its dividend by an average of 14.5% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Prologis has a dividend payout ratio of 123.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Prologis to earn $6.07 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 63.3%.

Prologis Stock Performance

Shares of NYSE:PLD opened at $112.29 on Friday. The business’s fifty day moving average price is $109.18 and its two-hundred day moving average price is $122.40. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The stock has a market capitalization of $103.96 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 2.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLD. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Saturday, June 8th. Robert W. Baird reduced their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Scotiabank reduced their price objective on Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 16th. Finally, Argus reduced their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.76.

Check Out Our Latest Stock Analysis on Prologis

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. 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.

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Dividend History for Prologis (NYSE:PLD)

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