Prologis, Inc. (NYSE:PLD – Get Free Report) 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.
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.
View Our Latest Stock Report on PLD
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.
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