Prologis, Inc. (NYSE:PLD) Increases Dividend to $1.01 Per Share

Prologis, Inc. (NYSE:PLD) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Tuesday, March 18th will be given a dividend of 1.01 per share by the real estate investment trust on Monday, March 31st. This represents a $4.04 annualized dividend and a yield of 3.61%. The ex-dividend date is Tuesday, March 18th. This is a 5.2% increase from Prologis’s previous quarterly dividend of $0.96.

Prologis has raised its dividend by an average of 15.1% annually over the last three years and has increased its dividend every year for the last 12 years. Prologis has a dividend payout ratio of 123.9% indicating that 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 $6.20 per share next year, which means the company should continue to be able to cover its $4.04 annual dividend with an expected future payout ratio of 65.2%.

Prologis Price Performance

NYSE:PLD opened at $111.98 on Friday. The firm has a market cap of $103.79 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The stock has a 50 day moving average of $116.89 and a two-hundred day moving average of $117.53. Prologis has a 12 month low of $100.82 and a 12 month high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PLD shares. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Robert W. Baird boosted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, UBS Group boosted their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Prologis

An institutional investor recently raised its position in Prologis stock. Brighton Jones LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 629.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,475 shares of the real estate investment trust’s stock after acquiring an additional 15,078 shares during the quarter. Brighton Jones LLC’s holdings in Prologis were worth $1,847,000 as of its most recent filing with the SEC. 93.50% of the stock is owned by hedge funds and other 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.