Desjardins Global Asset Management Inc. Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Desjardins Global Asset Management Inc. raised its holdings in Prologis, Inc. (NYSE:PLD) by 255.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,124 shares of the real estate investment trust’s stock after purchasing an additional 11,582 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Prologis were worth $2,149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. RB Capital Management LLC lifted its position in shares of Prologis by 14.7% during the 1st quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock valued at $485,000 after acquiring an additional 385 shares during the period. Blair William & Co. IL lifted its position in shares of Prologis by 5.3% during the 1st quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock valued at $3,490,000 after acquiring an additional 1,092 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Prologis by 87.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock valued at $546,000 after acquiring an additional 1,580 shares during the period. Baird Financial Group Inc. lifted its position in shares of Prologis by 41.8% during the 1st quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock valued at $38,952,000 after acquiring an additional 71,112 shares during the period. Finally, Zions Bancorporation N.A. lifted its position in shares of Prologis by 38.8% during the 1st quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 581 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Mizuho restated a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Evercore ISI reiterated an “in-line” rating and issued a $136.00 price target on shares of Prologis in a report on Monday, March 18th. Morgan Stanley boosted their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Robert W. Baird boosted their price objective on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Finally, Royal Bank of Canada boosted their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Four investment analysts have rated the stock with a hold rating, ten 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 “Moderate Buy” and a consensus target price of $141.67.

Prologis Stock Down 0.9 %

Shares of Prologis stock opened at $114.73 on Wednesday. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. The stock has a market cap of $106.13 billion, a price-to-earnings ratio of 34.87, a price-to-earnings-growth ratio of 2.31 and a beta of 1.00. The company has a fifty day moving average price of $129.44 and a 200 day moving average price of $122.30.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 EPS. Equities research analysts forecast that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is 116.72%.

Prologis 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.