The stock of Prologis Inc (NYSE:PLD) last traded at $99.63, up 0.90% from the previous session.
Data from the available sources indicates that Prologis Inc (NYSE:PLD) is covered by 23 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $154.00 and a low of $119.00, we find $134.00. Given the previous closing price of $98.74, this indicates a potential upside of 35.71 percent. PLD stock price is now -13.76% away from the 50-day moving average and -18.01% away from the 200-day moving average. The market capitalization of the company currently stands at $92.90B.
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In total, 3 analysts have assigned it a hold rating, and 19 have given it a buy rating. Brokers who have rated the stock have averaged $134.62 as their price target over the next twelve months.
With the price target maintained at $141, Exane BNP Paribas recently Upgraded its rating from Neutral to Outperform for Prologis Inc (NYSE: PLD).
In other news, FOTIADES GEORGE L, Director sold 10,711 shares of the company’s stock on Aug 01. The stock was sold for $1,327,908 at an average price of $123.98. Upon completion of the transaction, the Director now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 28, Director OCONNOR DAVID P bought 9,000 shares of the business’s stock. A total of $1,027,170 was incurred on buying the stock at an average price of $114.13. This leaves the insider owning 9,000 shares of the company worth $0.9 million. Insiders disposed of 1,044,373 shares of company stock worth roughly $104.05 million over the past 1 year. A total of 1.39% 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 ALLSTATE INVESTMENT MANAGEMENT CO during the first quarter worth $28,742,000. HRT FINANCIAL LP invested $26,978,000 in shares of PLD during the first quarter. In the first quarter, UNISUPER MANAGEMENT PTY LTD acquired a new stake in Prologis Inc valued at approximately $26,708,000. ARTEMIS INVESTMENT MANAGEMENT LLP acquired a new stake in PLD for approximately $15,288,000. BANK PICTET & CIE (EUROPE) AG purchased a new stake in PLD valued at around $13,578,000 in the second quarter. In total, there are 1,932 active investors with 93.38% ownership of the company’s stock.
With an opening price of $98.82 on Thursday morning, Prologis Inc (NYSE: PLD) set off the trading day. During the past 12 months, Prologis Inc has had a low of $98.25 and a high of $136.67. The fifty day moving average price for PLD is $115.09 and a two-hundred day moving average price translates $121.43 for the stock.
The latest earnings results from Prologis Inc (NYSE: PLD) was released for Sep, 2023. According to the REIT – Industrial Company, earnings per share came in at $0.8, beating analysts’ expectations of $0.57 by 0.23. This compares to $0.82 EPS in the same period last year. The net profit margin was 38.17% and return on equity was 7.46% for PLD. The company reported revenue of $2.45 billion for the quarter, compared to $1.25 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 95.75 percent. For the current quarter, analysts expect PLD to generate $1.79B 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 3.49% 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 76.44%.
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 September 30, 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 (114 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 6,700 customers principally across two major categories: business-to-business and retail/online fulfillment.
