Prologis, Inc. (NYSE:PLD) Plans Quarterly Dividend of $0.96

Prologis, Inc. (NYSE:PLD) announced a quarterly dividend on Tuesday, September 3rd, RTT News reports. Investors of record on Monday, September 16th will be given a dividend of 0.96 per share by the real estate investment trust on Monday, September 30th. This represents a $3.84 annualized dividend and a yield of 2.99%.

Prologis has raised its dividend by an average of 14.5% annually over the last three years and has raised its dividend every year for the last 11 years. Prologis has a payout ratio of 125.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Prologis to earn $6.00 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 64.0%.

Prologis Stock Performance

PLD opened at $128.36 on Wednesday. Prologis has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a market cap of $118.85 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 3.28 and a beta of 1.06. The company’s fifty day moving average price is $121.69 and its two-hundred day moving average price is $118.95. 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) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue was down 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 EPS. On average, analysts expect that Prologis will post 5.42 EPS for the current fiscal year.

Analyst Ratings Changes

PLD has been the subject of several recent research reports. Truist Financial upped their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wells Fargo & Company raised their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Barclays increased their price objective on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley boosted their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.12.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s 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 directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

About Prologis

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.