Prologis, Inc. Declares Quarterly Dividend of $0.63 (NYSE:PLD)

Prologis, Inc. (NYSE:PLD) announced a quarterly dividend on Tuesday, September 7th, RTT News reports. Investors of record on Friday, September 17th will be paid a dividend of 0.63 per share by the real estate investment trust on Thursday, September 30th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, September 16th.

Prologis has raised its dividend payment by 31.8% over the last three years and has increased its dividend annually for the last 1 consecutive years.

Shares of NYSE:PLD opened at $132.55 on Wednesday. The business’s 50-day moving average is $130.74 and its 200 day moving average is $119.35. Prologis has a 1 year low of $93.08 and a 1 year high of $139.60. The firm has a market capitalization of $97.99 billion, a P/E ratio of 63.73, a P/E/G ratio of 4.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.46 and a quick ratio of 0.46.

Prologis (NYSE:PLD) last announced its earnings results on Sunday, July 18th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.37. Prologis had a return on equity of 4.27% and a net margin of 34.54%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company posted $1.11 EPS. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, analysts expect that Prologis will post 4.07 EPS for the current year.

An institutional investor recently raised its position in Prologis stock. Morgan Stanley boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 30.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,634,236 shares of the real estate investment trust’s stock after purchasing an additional 1,552,532 shares during the quarter. Morgan Stanley owned approximately 0.90% of Prologis worth $792,990,000 at the end of the most recent reporting period. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on PLD. Truist upped their target price on Prologis from $123.00 to $137.00 and gave the company a “buy” rating in a research report on Friday, July 30th. Royal Bank of Canada upped their target price on Prologis from $130.00 to $144.00 and gave the company an “outperform” rating in a research report on Tuesday, August 3rd. Wells Fargo & Company increased their price objective on Prologis from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. BMO Capital Markets increased their price objective on Prologis from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, July 26th. Finally, Morgan Stanley increased their price objective on Prologis from $120.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday, July 15th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $135.20.

Prologis Company Profile

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

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Dividend History for Prologis (NYSE:PLD)

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