Prologis, Inc. Plans Quarterly Dividend of $0.96 (NYSE:PLD)

Prologis, Inc. (NYSE:PLD) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Stockholders of record on Monday, June 17th will be paid a dividend of 0.96 per share by the real estate investment trust on Friday, June 28th. This represents a $3.84 annualized dividend and a dividend yield of 3.55%.

Prologis has raised its dividend by an average of 14.5% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Prologis has a payout ratio of 122.3% 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 $6.11 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 62.8%.

Prologis Trading Up 2.1 %

PLD stock traded up $2.27 during midday trading on Thursday, reaching $108.15. 4,208,531 shares of the company traded hands, compared to its average volume of 3,566,747. The firm has a market capitalization of $100.13 billion, a price-to-earnings ratio of 31.62, a P/E/G ratio of 2.20 and a beta of 1.05. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52. The business has a 50 day moving average of $120.50 and a 200-day moving average of $121.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLD. Royal Bank of Canada lowered their price target on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research report on Monday. Raymond James upped their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Morgan Stanley raised their price objective on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Argus cut their target price on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Robert W. Baird decreased their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.