Prologis, Inc. (NYSE:PLD – Get Free Report) declared a quarterly dividend on Wednesday, September 2nd. Investors of record on Wednesday, September 16th will be given a dividend of 1.07 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, September 16th.
Prologis has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Prologis has a dividend payout ratio of 132.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Prologis to earn $6.65 per share next year, which means the company should continue to be able to cover its $4.28 annual dividend with an expected future payout ratio of 64.4%.
Prologis Price Performance
Shares of Prologis stock opened at $136.60 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $127.46 billion, a price-to-earnings ratio of 30.42 and a beta of 1.30. Prologis has a twelve month low of $110.51 and a twelve month high of $153.35. The company has a 50-day simple moving average of $142.16 and a two-hundred day simple moving average of $140.61.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on PLD shares. Scotiabank increased their price target on Prologis from $146.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 23rd. Mizuho upped their target price on Prologis from $150.00 to $159.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Wells Fargo & Company cut their target price on Prologis from $167.00 to $166.00 and set an “overweight” rating for the company in a research report on Tuesday. Wall Street Zen raised Prologis from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Royal Bank Of Canada raised Prologis from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $148.00 to $160.00 in a research note on Tuesday, August 4th. Sixteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.52.
Get Our Latest Stock Report on Prologis
Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.
With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.
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