In yesterday’s Wall Street session, Prologis Inc. (NYSE:PLD) shares traded at $122.78, down -0.98% from the previous session.
As of this writing, 25 analysts cover Prologis Inc. (NYSE:PLD). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $162.00 and a low of $128.00, we find $140.50. Given the previous closing price of $124.00, this indicates a potential upside of 13.31 percent. PLD stock price is now -0.50% away from the 50-day moving average and 3.18% away from the 200-day moving average. The market capitalization of the company currently stands at $112.67B.
There are 4 analysts who have given it a hold rating, whereas 20 have given it a buy rating. Brokers who have rated the stock have averaged $142.35 as their price target over the next twelve months.
In other news, OCONNOR DAVID P, Director bought 9,000 shares of the company’s stock on Nov 28. The stock was bought for $1,027,170 at an average price of $114.13. Upon completion of the transaction, the Director now directly owns 9,000 shares in the company, valued at $1.11 million. Insiders disposed of 1,022,421 shares of company stock worth roughly $125.53 million over the past 1 year. A total of 0.32% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PLD stock. A new stake in Prologis Inc. shares was purchased by OFI INVEST ASSET MANAGEMENT during the first quarter worth $336,242,000. ALLSTATE INVESTMENT MANAGEMENT CO invested $35,420,000 in shares of PLD during the first quarter. In the first quarter, LIGHTHOUSE INVESTMENT PARTNERS, LLC acquired a new stake in Prologis Inc. valued at approximately $19,338,000. NORTHCREST ASSET MANANGEMENT, LLC acquired a new stake in PLD for approximately $17,333,000. ILMARINEN MUTUAL PENSION INSURANCE CO purchased a new stake in PLD valued at around $17,067,000 in the second quarter. In total, there are 1,898 active investors with 79.60% ownership of the company’s stock.
Wednesday morning saw Prologis Inc. (NYSE: PLD) opened at $125.42. During the past 12 months, Prologis Inc. has had a low of $98.03 and a high of $138.86. The fifty day moving average price for PLD is $123.31 and a two-hundred day moving average price translates $119.10 for the stock.
The latest earnings results from Prologis Inc. (NYSE: PLD) was released for Mar, 2023. According to the REIT – Industrial Company, earnings per share came in at $1.31, beating analysts’ expectations of $1 by 0.31. This compares to $1.54 EPS in the same period last year. The net profit margin was 41.00% and return on equity was 6.10% for PLD. The company reported revenue of $1.77 billion for the quarter, compared to $1.22 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 45.07 percent. For the current quarter, analysts expect PLD to generate $1.74B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/16/2023 were paid a $0.87 dividend. On an annualized basis, this represents a $3.48 dividend and a 2.83% percent yield. There was an ex-dividend date of 06/15/2023 for this dividend. In terms of dividend payout ratio, PLD is presently at 97.30%.
Prologis Inc.(PLD) Company Profile
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 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 (113 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 6,600 customers principally across two major categories: business-to-business and retail/online fulfillment.
