A number of other brokerages have also recently issued reports on PLD. Barclays increased their price objective on shares of Prologis from $171.00 to $190.00 and gave the company an overweight rating in a research note on Thursday, April 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Prologis from $179.00 to $184.00 and gave the company a buy rating in a report on Friday, April 22nd. Truist Financial dropped their target price on Prologis from $166.00 to $162.00 and set a na rating for the company in a report on Monday, May 16th. Robert W. Baird upped their price target on Prologis from $152.00 to $175.00 in a research report on Wednesday, April 20th. Finally, Wells Fargo & Company dropped their price objective on Prologis from $184.00 to $160.00 in a research note on Monday, June 6th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has a consensus rating of Buy and a consensus price target of $174.75.
Shares of PLD opened at $115.46 on Monday. The stock’s 50-day moving average price is $135.12 and its 200 day moving average price is $148.71. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $85.47 billion, a price-to-earnings ratio of 23.14, a P/E/G ratio of 2.19 and a beta of 0.84. Prologis has a 12-month low of $106.46 and a 12-month high of $174.54.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.74%. Prologis’s payout ratio is 63.33%.
In other Prologis news, Director Avid Modjtabai bought 15,000 shares of the business’s stock in a transaction on Friday, May 20th. The shares were bought at an average cost of $118.65 per share, for a total transaction of $1,779,750.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $1,779,750. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Irving F. Lyons III sold 44,385 shares of Prologis stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $164.60, for a total transaction of $7,305,771.00. Following the sale, the director now owns 22,431 shares of the company’s stock, valued at approximately $3,692,142.60. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Retirement Planning Co of New England Inc. bought a new position in Prologis during the fourth quarter worth about $25,000. American National Bank acquired a new position in Prologis during the first quarter valued at approximately $26,000. William Allan LLC bought a new stake in Prologis in the fourth quarter valued at approximately $27,000. M&R Capital Management Inc. raised its holdings in Prologis by 245.1% in the first quarter. M&R Capital Management Inc. now owns 176 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 125 shares during the period. Finally, Lee Financial Co bought a new position in shares of Prologis during the fourth quarter worth $31,000. 93.53% of the stock is owned by institutional investors and hedge funds.
Prologis Company Profile (Get Rating)
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.
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