Prologis (NYSE:PLD) Upgraded at Baird R W

Baird R W upgraded shares of Prologis (NYSE:PLD) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Several other research firms also recently commented on PLD. Raymond James reiterated an “outperform” rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. JPMorgan Chase & Co. reduced their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Barclays boosted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $124.00 to $123.00 in a report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.25.

Prologis Price Performance

Shares of PLD opened at $106.65 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis has a 1-year low of $100.82 and a 1-year high of $135.76. The stock has a market cap of $98.78 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The firm has a fifty day moving average price of $111.66 and a 200 day moving average price of $118.64.

Prologis (NYSE:PLD) last released its quarterly 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 return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the business earned $1.30 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Prologis will post 5.45 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.60%. Prologis’s dividend payout ratio is presently 116.01%.

Institutional Investors Weigh In On Prologis

A number of institutional investors and hedge funds have recently bought and sold shares of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Prologis by 145.0% during the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after acquiring an additional 2,138,693 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Prologis during the 2nd quarter worth about $203,223,000. AMF Tjanstepension AB raised its stake in Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Prologis by 326.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after purchasing an additional 1,358,542 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.