Prologis (NYSE:PLD) Hits New 52-Week High at $150.25

Prologis, Inc. (NYSE:PLD)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $150.25 and last traded at $150.20, with a volume of 1502100 shares changing hands. The stock had previously closed at $148.81.

Several equities research analysts have recently commented on PLD shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Prologis from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, August 18th. Barclays boosted their target price on shares of Prologis from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Tuesday, October 19th. Royal Bank of Canada boosted their target price on shares of Prologis from $144.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, November 8th. BTIG Research upped their price target on shares of Prologis from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Wednesday, October 20th. Finally, Truist Securities upped their price target on shares of Prologis from $123.00 to $137.00 and gave the stock a “buy” rating in a research report on Saturday, July 31st. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $146.47.

The business has a 50 day moving average of $137.05 and a 200-day moving average of $128.91. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $111.05 billion, a P/E ratio of 56.68, a PEG ratio of 4.58 and a beta of 0.78.

Prologis (NYSE:PLD) last posted its earnings results on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). Prologis had a return on equity of 5.42% and a net margin of 42.95%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $0.90 earnings per share. Prologis’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, analysts anticipate that Prologis, Inc. will post 4.12 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Friday, September 17th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Thursday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 95.09%.

In other Prologis news, Director William D. Zollars sold 1,380 shares of the company’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $146.20, for a total transaction of $201,756.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Irving F. Lyons III sold 24,000 shares of the stock in a transaction that occurred on Monday, August 30th. The shares were sold at an average price of $133.53, for a total value of $3,204,720.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 345,380 shares of company stock valued at $49,569,018. Insiders own 0.87% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Bridgewater Associates LP acquired a new stake in Prologis during the 2nd quarter valued at $1,358,000. abrdn plc lifted its holdings in Prologis by 20.0% during the 2nd quarter. abrdn plc now owns 1,713,019 shares of the real estate investment trust’s stock valued at $204,757,000 after purchasing an additional 285,900 shares during the last quarter. Bank of Montreal Can lifted its holdings in Prologis by 89.9% during the 2nd quarter. Bank of Montreal Can now owns 2,910,616 shares of the real estate investment trust’s stock valued at $354,018,000 after purchasing an additional 1,377,517 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in Prologis by 37.7% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,970 shares of the real estate investment trust’s stock worth $1,789,000 after buying an additional 4,100 shares during the period. Finally, Neuberger Berman Group LLC increased its position in Prologis by 11.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,417,602 shares of the real estate investment trust’s stock worth $287,894,000 after buying an additional 255,152 shares during the period. 92.23% of the stock is owned by institutional investors and hedge funds.

Prologis Company Profile (NYSE:PLD)

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

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