Prologis (NYSE:PLD) Receives “Neutral” Rating from The Goldman Sachs Group

by · The Markets Daily

The Goldman Sachs Group reiterated their neutral rating on shares of Prologis (NYSE:PLD – Free Report) in a report released on Monday, MarketBeat Ratings reports. The brokerage currently has a $132.00 price target on the real estate investment trust’s stock, down from their prior price target of $142.00.

PLD has been the subject of a number of other research reports. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Argus raised their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley boosted their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Evercore ISI increased their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $131.47.

Get Our Latest Report on PLD

Prologis Trading Down 0.4 %

Shares of PLD stock opened at $120.39 on Monday. The firm has a market capitalization of $111.46 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52. The firm’s fifty day simple moving average is $125.26 and its 200 day simple moving average is $117.54. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD – Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Prologis will post 5.42 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Capital Advisory LLC bought a new position in shares of Prologis in the second quarter worth about $26,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis in the second quarter valued at approximately $27,000. Central Valley Advisors LLC bought a new position in Prologis in the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. lifted its holdings in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in Prologis in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

About Prologis

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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.

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