Prologis, Inc. (PLD) To Go Ex-Dividend on March 18th

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

Prologis has increased its dividend by an average of 15.1% per year over the last three years and has raised 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. 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 Stock Up 1.5 %

NYSE:PLD opened at $111.98 on Friday. The company’s 50 day moving average is $116.89 and its two-hundred day moving average is $117.53. The company has a market cap of $103.79 billion, a PE ratio of 28.00, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis has a twelve month low of $100.82 and a twelve 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.

Analysts Set New Price Targets

PLD has been the subject of a number of research analyst reports. Truist Financial raised their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group lifted their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prologis

A hedge fund recently raised its stake in Prologis stock. Brighton Jones LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 629.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,475 shares of the real estate investment trust’s stock after buying an additional 15,078 shares during the period. Brighton Jones LLC’s holdings in Prologis were worth $1,847,000 at the end of the most recent quarter. Institutional investors own 93.50% 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.