Prologis (NYSE:PLD) Downgraded by BMO Capital Markets

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

A number of other brokerages have also issued reports on PLD. Robert W. Baird raised their target price on Prologis from $133.00 to $137.00 and gave the stock a neutral rating in a research note on Tuesday, January 23rd. Mizuho reiterated a neutral rating and set a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Evercore ISI reduced their price objective on Prologis from $136.00 to $123.00 and set an in-line rating for the company in a research note on Thursday, April 18th. TheStreet upgraded Prologis from a c+ rating to a b- rating in a research note on Friday, January 26th. Finally, UBS Group reduced their price objective on Prologis from $151.00 to $138.00 and set a buy rating for the company in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $135.41.

Prologis Stock Performance

Shares of PLD stock opened at $103.18 on Monday. The firm has a market capitalization of $95.45 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. The business has a fifty day moving average of $126.24 and a 200 day moving average of $122.03. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis Increases Dividend

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

Institutional Investors Weigh In On Prologis

Several institutional investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC boosted its holdings in 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 worth $6,364,799,000 after buying an additional 48,850,448 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in 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 worth $1,853,633,000 after buying an additional 1,034,211 shares during the last quarter. FMR LLC boosted its holdings in Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after buying an additional 197,693 shares during the last quarter. Northern Trust Corp boosted its holdings in Prologis by 0.7% in the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after buying an additional 92,036 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Prologis by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after buying an additional 365,904 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.