Prologis (NYSE:PLD) Lowered to Market Perform at BMO Capital Markets

BMO Capital Markets downgraded shares of Prologis (NYSE:PLD) from an outperform rating to a market perform rating in a report released on Monday morning, Marketbeat.com reports. BMO Capital Markets currently has $112.00 target price on the real estate investment trust’s stock, down from their prior target price of $145.00.

Several other equities analysts have also recently weighed in on the stock. TheStreet raised shares of Prologis from a c+ rating to a b- rating in a research note on Friday, January 26th. Robert W. Baird raised their target price on shares of Prologis from $133.00 to $137.00 and gave the company a neutral rating in a research note on Tuesday, January 23rd. Morgan Stanley raised their target price on shares of Prologis from $128.00 to $141.00 and gave the company an overweight rating in a research note on Wednesday, January 24th. Royal Bank of Canada lifted their price objective 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. Finally, Raymond James lifted their price objective on shares of Prologis from $130.00 to $145.00 and gave the stock a strong-buy rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $134.24.

Prologis Stock Up 0.2 %

Shares of PLD stock opened at $103.35 on Monday. The company has a market capitalization of $95.60 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.17 and a beta of 1.00. Prologis has a one year low of $96.64 and a one year high of $137.52. The company’s fifty day moving average price is $125.65 and its 200-day moving average price is $121.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is presently 112.28%.

Institutional Investors Weigh In On Prologis

Several hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC lifted its position in shares of Prologis by 14.8% in the 1st quarter. Lindbrook Capital LLC now owns 3,103 shares of the real estate investment trust’s stock worth $404,000 after purchasing an additional 401 shares during the period. Adell Harriman & Carpenter Inc. lifted its position in Prologis by 3.7% during the first quarter. Adell Harriman & Carpenter Inc. now owns 72,664 shares of the real estate investment trust’s stock valued at $9,462,000 after acquiring an additional 2,615 shares during the last quarter. Strategy Asset Managers LLC lifted its position in Prologis by 13.8% during the first quarter. Strategy Asset Managers LLC now owns 2,549 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 310 shares during the last quarter. Bridges Investment Management Inc. lifted its position in Prologis by 21.1% during the first quarter. Bridges Investment Management Inc. now owns 21,735 shares of the real estate investment trust’s stock valued at $2,830,000 after acquiring an additional 3,794 shares during the last quarter. Finally, Equitable Trust Co. lifted its position in Prologis by 7.3% during the first quarter. Equitable Trust Co. now owns 10,530 shares of the real estate investment trust’s stock valued at $1,371,000 after acquiring an additional 712 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Company Profile

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.