Westwood Holdings Group Inc. Purchases 82,755 Shares of Prologis, Inc. (NYSE:PLD)

Westwood Holdings Group Inc. lifted its stake in Prologis, Inc. (NYSE:PLD) by 12.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 742,567 shares of the real estate investment trust’s stock after buying an additional 82,755 shares during the period. Westwood Holdings Group Inc.’s holdings in Prologis were worth $78,489,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PLD. Aviva PLC lifted its position in shares of Prologis by 36.6% during the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock worth $73,481,000 after purchasing an additional 186,187 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after acquiring an additional 179,880 shares during the last quarter. Allstate Corp grew its holdings in Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock valued at $7,877,000 after purchasing an additional 39,321 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock valued at $1,754,282,000 after purchasing an additional 334,907 shares in the last quarter. Finally, Banco Santander S.A. boosted its position in shares of Prologis by 88.0% during the fourth quarter. Banco Santander S.A. now owns 4,683 shares of the real estate investment trust’s stock worth $495,000 after purchasing an additional 2,192 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Robert W. Baird reduced their target price on Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Evercore ISI dropped their price target on Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research note on Thursday, April 17th. Barclays dropped their target price on Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Truist Financial cut their price objective on shares of Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.84.

Prologis Stock Performance

Shares of Prologis stock opened at $110.56 on Monday. The stock has a market cap of $102.59 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company’s fifty day moving average is $104.90 and its 200 day moving average is $111.08. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.65%. Prologis’s payout ratio is 101.00%.

Prologis 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.