Prologis, Inc. (NYSE:PLD) Stake Boosted by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Prologis, Inc. (NYSE:PLD) by 14.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,301 shares of the real estate investment trust’s stock after purchasing an additional 22,826 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Prologis were worth $18,741,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PLD. Grassi Investment Management raised its stake in Prologis by 1.0% during the fourth quarter. Grassi Investment Management now owns 254,325 shares of the real estate investment trust’s stock worth $26,882,000 after acquiring an additional 2,400 shares during the period. Merit Financial Group LLC boosted its stake in Prologis by 303.9% in the fourth quarter. Merit Financial Group LLC now owns 9,851 shares of the real estate investment trust’s stock valued at $1,041,000 after acquiring an additional 7,412 shares during the period. Atomi Financial Group Inc. grew its holdings in shares of Prologis by 11.3% during the fourth quarter. Atomi Financial Group Inc. now owns 5,028 shares of the real estate investment trust’s stock valued at $532,000 after purchasing an additional 511 shares during the last quarter. Investment Advisory Group LLC raised its position in shares of Prologis by 2.8% during the 4th quarter. Investment Advisory Group LLC now owns 7,236 shares of the real estate investment trust’s stock worth $765,000 after purchasing an additional 200 shares during the period. Finally, Baker Ellis Asset Management LLC raised its position in shares of Prologis by 4.4% during the 4th quarter. Baker Ellis Asset Management LLC now owns 9,550 shares of the real estate investment trust’s stock worth $1,009,000 after purchasing an additional 400 shares during the period. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Truist Financial lowered their price objective on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Mizuho reduced their price target on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Royal Bank of Canada dropped their price objective on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. Wolfe Research lowered shares of Prologis from an “outperform” rating to a “peer perform” rating in a research note on Monday, April 21st. Finally, Barclays decreased their target price on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.42.

Prologis Stock Down 3.7%

PLD opened at $104.72 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a market capitalization of $97.17 billion, a PE ratio of 26.18, a P/E/G ratio of 2.70 and a beta of 1.25. The stock’s fifty day moving average is $104.62 and its 200-day moving average is $111.00. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. On average, equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm 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 dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Tuesday, June 17th. Prologis’s payout ratio is 101.00%.

About Prologis

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.