Raymond James Reiterates Outperform Rating for Prologis (NYSE:PLD)

Raymond James reissued their outperform rating on shares of Prologis (NYSE:PLD) in a report published on Wednesday, MarketBeat Ratings reports. Raymond James currently has a $125.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $130.00.

A number of other research firms have also commented on PLD. Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Evercore ISI upped their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Scotiabank decreased their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. Finally, Barclays increased their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $128.88.

Prologis Trading Down 0.5 %

Shares of PLD opened at $111.10 on Wednesday. The stock’s fifty day simple moving average is $116.44 and its 200-day simple moving average is $119.00. The firm has a market capitalization of $102.90 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. Prologis has a 12-month low of $101.11 and a 12-month high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts predict that Prologis will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Institutional Trading of Prologis

A number of institutional investors have recently modified their holdings of the company. ASB Consultores LLC raised its position in Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV lifted its position in shares of Prologis by 0.8% in the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 87 shares in the last quarter. CX Institutional boosted its holdings in Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA boosted its holdings in Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares during the last quarter. Finally, Destination Wealth Management grew its position in Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

About Prologis

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.