Prologis (NYSE:PLD) Shares Gap Down on Analyst Downgrade

Prologis, Inc. (NYSE:PLD) gapped down prior to trading on Wednesday after Barclays lowered their price target on the stock from $141.00 to $135.00. The stock had previously closed at $114.74, but opened at $108.70. Barclays currently has an overweight rating on the stock. Prologis shares last traded at $105.89, with a volume of 7,918,996 shares.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada increased their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Raymond James increased their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Morgan Stanley increased their price target on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Finally, Mizuho reissued a “neutral” rating and issued a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.27.

Institutional Investors Weigh In On Prologis

Institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC purchased a new stake in shares of Prologis in the 4th quarter worth about $27,000. Optimum Investment Advisors purchased a new position in Prologis during the 1st quarter valued at about $26,000. Thompson Investment Management Inc. purchased a new position in Prologis during the 4th quarter valued at about $28,000. JFS Wealth Advisors LLC lifted its position in Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 168 shares during the period. Finally, Clear Investment Research LLC lifted its position in Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 158 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

The company has a market capitalization of $98.61 billion, a PE ratio of 32.16, a PEG ratio of 2.31 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The business’s 50-day moving average is $129.44 and its 200-day moving average is $122.30.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 earnings per share. On average, research analysts anticipate that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.60%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio is 116.72%.

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.