By otakuyassine3@gmail.com 
Prologis, Inc. (NYSE:PLD – Get Free Report) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 9,700,000 shares, a drop of 23.7% from the December 31st total of 12,720,000 shares. Based on an average daily trading volume, of 4,250,000 shares, the days-to-cover ratio is currently 2.3 days.
Prologis Stock Performance
Shares of NYSE:PLD traded down $1.51 during midday trading on Friday, reaching $119.14. 3,753,660 shares of the company traded hands, compared to its average volume of 4,222,125. The firm’s fifty day moving average price is $111.03 and its two-hundred day moving average price is $118.40. Prologis has a 12 month low of $100.82 and a 12 month high of $135.76. The firm has a market capitalization of $110.34 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53.
Prologis Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.22%. Prologis’s payout ratio is currently 96.00%.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Truist Financial increased their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Barclays upped their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Scotiabank reduced their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Finally, Wolfe Research lowered their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.
Read Our Latest Research Report on PLD
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Dunhill Financial LLC boosted its stake in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the period. Hara Capital LLC bought a new position in Prologis during the 3rd quarter valued at approximately $48,000. Coastline Trust Co bought a new position in shares of Prologis during the third quarter valued at approximately $52,000. Finally, Fortitude Family Office LLC lifted its position in shares of Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.
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.
See Also
Receive News & Ratings for Prologis Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Prologis and related companies with MarketBeat.com’s FREE daily email newsletter.