Prologis (NYSE:PLD) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Prologis (NYSE:PLD) from a hold rating to a sell rating in a report released on Wednesday.

A number of other analysts also recently issued reports on PLD. Mizuho reaffirmed a neutral rating and issued a $130.00 target price on shares of Prologis in a research note on Tuesday, April 2nd. Royal Bank of Canada raised their target price on Prologis from $128.00 to $145.00 and gave the stock an outperform rating in a research note on Friday, February 16th. Raymond James raised their target price on Prologis from $130.00 to $145.00 and gave the stock a strong-buy rating in a research note on Wednesday, January 24th. Argus cut their target price on Prologis from $139.00 to $120.00 and set a buy rating for the company in a research note on Monday, April 22nd. Finally, BMO Capital Markets downgraded Prologis from an outperform rating to a market perform rating and cut their price objective for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prologis currently has an average rating of Moderate Buy and an average target price of $134.24.

Prologis Stock Up 0.7 %

Shares of PLD opened at $104.03 on Wednesday. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a market capitalization of $96.23 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The stock has a fifty day simple moving average of $125.06 and a two-hundred day simple moving average of $121.86. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.69%. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Hedge Funds Weigh In On Prologis

Several hedge funds and other institutional investors have recently made changes to their positions in PLD. Valeo Financial Advisors LLC boosted its stake in shares of Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares during the period. Norges Bank purchased a new position in shares of Prologis in the 4th quarter valued at about $1,074,648,000. Capital World Investors boosted its stake in shares of Prologis by 1,252.9% in the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after buying an additional 6,765,582 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Prologis in the 3rd quarter valued at about $185,164,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Prologis by 6.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after buying an additional 1,034,211 shares during the period. 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 December 31, 2023, 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.