Thurston Springer Miller Herd & Titak Inc. Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 26.8% in the first quarter, Holdings Channel.com reports. The firm owned 16,228 shares of the real estate investment trust’s stock after buying an additional 3,433 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Prologis were worth $1,814,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Gilman Hill Asset Management LLC grew its position in shares of Prologis by 65.8% during the first quarter. Gilman Hill Asset Management LLC now owns 7,669 shares of the real estate investment trust’s stock worth $857,000 after buying an additional 3,044 shares in the last quarter. Grassi Investment Management boosted its stake in Prologis by 0.7% during the 1st quarter. Grassi Investment Management now owns 256,075 shares of the real estate investment trust’s stock valued at $28,627,000 after acquiring an additional 1,750 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in Prologis by 3.4% during the 1st quarter. Financial Management Professionals Inc. now owns 4,472 shares of the real estate investment trust’s stock worth $500,000 after acquiring an additional 149 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Prologis by 37.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,881 shares of the real estate investment trust’s stock worth $1,328,000 after purchasing an additional 3,250 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in shares of Prologis by 1.8% in the 1st quarter. Fulton Bank N.A. now owns 25,661 shares of the real estate investment trust’s stock worth $2,869,000 after purchasing an additional 444 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PLD shares. Barclays reduced their price target on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley reduced their target price on Prologis to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Wolfe Research downgraded Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. CJS Securities dropped their price target on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Finally, Truist Financial reduced their price objective on Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.42.

Prologis Trading Down 0.5%

Shares of NYSE:PLD opened at $108.51 on Thursday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a market cap of $100.69 billion, a PE ratio of 27.13, a P/E/G ratio of 2.70 and a beta of 1.25. The company’s 50-day moving average price is $103.81 and its 200 day moving average price is $110.50.

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

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s payout ratio is currently 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.