Prologis (NYSE:PLD) Raised to Strong-Buy at BNP Paribas

BNP Paribas upgraded shares of Prologis (NYSE:PLD) to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Wolfe Research cut their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $124.00 to $123.00 in a research report on Monday, January 6th. Raymond James reissued an “outperform” rating and set a $125.00 price objective (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $128.67.

Prologis Trading Up 2.8 %

Shares of Prologis stock opened at $118.38 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $109.64 billion, a P/E ratio of 29.59, a P/E/G ratio of 3.25 and a beta of 1.09. Prologis has a 52-week low of $100.82 and a 52-week high of $135.76. The stock’s 50-day simple moving average is $110.31 and its 200 day simple moving average is $118.33.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.24%. Prologis’s dividend payout ratio (DPR) is 96.00%.

Institutional Trading of Prologis

Several hedge funds have recently added to or reduced their stakes in the business. Austin Private Wealth LLC lifted its stake in shares of Prologis by 27.7% in the 4th quarter. Austin Private Wealth LLC now owns 2,813 shares of the real estate investment trust’s stock valued at $297,000 after acquiring an additional 611 shares during the last quarter. Cibc World Market Inc. lifted its position in Prologis by 1.8% in the fourth quarter. Cibc World Market Inc. now owns 307,328 shares of the real estate investment trust’s stock valued at $32,485,000 after purchasing an additional 5,516 shares during the last quarter. OLD Second National Bank of Aurora boosted its stake in shares of Prologis by 7.1% during the fourth quarter. OLD Second National Bank of Aurora now owns 10,258 shares of the real estate investment trust’s stock valued at $1,084,000 after purchasing an additional 677 shares during the period. BDF Gestion grew its holdings in shares of Prologis by 6.2% in the fourth quarter. BDF Gestion now owns 51,130 shares of the real estate investment trust’s stock worth $5,404,000 after purchasing an additional 2,963 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of Prologis in the fourth quarter worth $1,057,000. 93.50% of the stock is owned by institutional investors.

Prologis Company Profile

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.