Essex Savings Bank Takes Position in Prologis, Inc. (NYSE:PLD)

Essex Savings Bank acquired a new stake in Prologis, Inc. (NYSE:PLD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,967 shares of the real estate investment trust’s stock, valued at approximately $220,000.

Several other large investors have also made changes to their positions in PLD. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis in the 4th quarter valued at $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis during the fourth quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in Prologis during the fourth quarter worth $30,000. REAP Financial Group LLC boosted its holdings in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 84 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Prologis during the fourth quarter worth $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Truist Financial lowered their price target on shares of Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Wells Fargo & Company lowered their price target on shares of Prologis from $146.00 to $119.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. BMO Capital Markets lowered their price target on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Robert W. Baird lowered their price target on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada reduced their price objective on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $120.42.

Prologis Price Performance

Shares of NYSE PLD opened at $105.05 on Thursday. The firm has a 50-day simple moving average of $105.22 and a 200-day simple moving average of $109.92. The stock has a market capitalization of $97.48 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. On average, equities analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.85%. The ex-dividend date 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.