Prologis’ (PLD) Market Perform Rating Reaffirmed at Raymond James

Raymond James reaffirmed their market perform rating on shares of Prologis (NYSE:PLD) in a report published on Monday, MarketBeat.com reports.

Several other research analysts also recently issued reports on the stock. BTIG Research lowered their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, Mizuho cut their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Shares of PLD opened at $118.82 on Monday. The company’s 50 day simple moving average is $111.07 and its 200-day simple moving average is $118.29. The firm has a market cap of $110.05 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Prologis has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.23%. Prologis’s payout ratio is 96.00%.

Institutional Trading of Prologis

A number of institutional investors have recently bought and sold shares of PLD. Dunhill Financial LLC grew its stake in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the fourth quarter valued at about $30,000. Whipplewood Advisors LLC acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $34,000. Hara Capital LLC purchased a new position in shares of Prologis during the 3rd quarter worth approximately $48,000. Finally, Coastline Trust Co purchased a new position in shares of Prologis during the 3rd quarter worth approximately $52,000. 93.50% of the stock is currently owned by hedge funds and other 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.