Prologis, Inc. (NYSE:PLD) Announces Dividend Increase – $1.01 Per Share

Prologis, Inc. (NYSE:PLD) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Tuesday, March 18th will be given a dividend of 1.01 per share by the real estate investment trust on Monday, March 31st. This represents a $4.04 dividend on an annualized basis and a yield of 3.34%. This is a positive change from Prologis’s previous quarterly dividend of $0.96.

Prologis has raised its dividend payment by an average of 15.1% annually over the last three years and has raised its dividend every year for the last 11 years. Prologis has a dividend payout ratio of 117.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Prologis to earn $6.21 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 61.8%.

Prologis Price Performance

NYSE:PLD opened at $120.90 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis has a 52 week low of $100.82 and a 52 week high of $135.76. The stock’s 50-day moving average price is $112.36 and its 200-day moving average price is $118.01. The stock has a market capitalization of $112.05 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.72 and a beta of 1.10.

Analysts Set New Price Targets

A number of analysts have recently commented on PLD shares. UBS Group boosted their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Truist Financial upped their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Barclays upped their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insiders Place Their Bets

In other Prologis 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 transaction of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

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.