Prologis, Inc. (NYSE:PLD - Get Free Report) announced a quarterly dividend on Tuesday, September 3rd, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 2.99%.
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Prologis has raised its dividend payment 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% 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 $6.00 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 Price Performance
Shares of NYSE PLD traded up $0.54 during mid-day trading on Tuesday, hitting $128.36. 3,526,147 shares of the company's stock traded hands, compared to its average volume of 3,633,613. The company has a market capitalization of $118.85 billion, a P/E ratio of 37.37, a PEG ratio of 3.28 and a beta of 1.06. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The company's 50-day moving average is $121.32 and its two-hundred day moving average is $118.99.
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Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis's revenue was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 EPS. On average, equities analysts anticipate that Prologis will post 5.42 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CIO Joseph Ghazal sold 5,200 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value 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 available at the SEC website. Company insiders own 0.50% of the company's stock.
Analyst Ratings Changes
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PLD has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Prologis from $140.00 to $156.00 and gave the company a "buy" rating in a report on Thursday, July 25th. Truist Financial increased their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Argus increased their target price on Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Evercore ISI increased their target price on Prologis from $122.00 to $124.00 and gave the company an "in-line" rating in a report on Wednesday, August 28th. Finally, StockNews.com raised shares of Prologis from a "sell" rating to a "hold" rating in a research report on Thursday, July 18th. Seven investment 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $133.12.
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About Prologis
(Get Free Report)
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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