Prologis (NYSE:PLD) Sets New 12-Month Low on Analyst Downgrade

Prologis, Inc. (NYSE:PLD) shares reached a new 52-week low on Wednesday after Barclays lowered their price target on the stock from $132.00 to $119.00. Barclays currently has an overweight rating on the stock. Prologis traded as low as $100.22 and last traded at $101.97, with a volume of 7706372 shares traded. The stock had previously closed at $103.10.

Several other brokerages also recently commented on PLD. Royal Bank of Canada lowered their price objective on Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research note on Tuesday. Mizuho cut their price objective on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Evercore ISI cut their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley decreased their price objective on shares of Prologis to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average price target of $122.05.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Prologis

Institutional investors have recently modified their holdings of the business. Murphy & Mullick Capital Management Corp bought a new stake in Prologis during the 4th quarter valued at $26,000. Crowley Wealth Management Inc. purchased a new position in shares of Prologis in the fourth quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in shares of Prologis during the 4th quarter valued at $30,000. REAP Financial Group LLC lifted its holdings in Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in Prologis in the 4th quarter worth about $34,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Up 0.9 %

The stock has a fifty day simple moving average of $108.03 and a two-hundred day simple moving average of $112.10. The firm has a market cap of $95.62 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. As a group, sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $1.01 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.92%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is presently 101.00%.

Prologis Company Profile

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.