First American Bank Acquires 497 Shares of Prologis, Inc. (NYSE:PLD)

First American Bank increased its position in shares of Prologis, Inc. (NYSE:PLD) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,600 shares of the real estate investment trust’s stock after purchasing an additional 497 shares during the period. First American Bank’s holdings in Prologis were worth $4,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PLD. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis in the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in shares of Prologis during the 4th quarter valued at about $30,000. REAP Financial Group LLC raised its stake in Prologis by 40.0% during the 4th 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 during the period. Finally, Promus Capital LLC acquired a new position in Prologis during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research reports. Wolfe Research downgraded Prologis from an “outperform” rating to a “peer perform” rating in a research note on Monday, April 21st. Royal Bank Of Canada dropped their price target on Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. BMO Capital Markets dropped their price target on Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, Robert W. Baird dropped their price target on Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.42.

Prologis Price Performance

NYSE:PLD opened at $105.67 on Friday. The firm has a market capitalization of $98.05 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 2.67 and a beta of 1.25. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The stock has a fifty day moving average of $105.62 and a 200 day moving average of $109.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41.

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

Prologis Dividend Announcement

The company also recently declared 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 3.82%. The ex-dividend date is Tuesday, June 17th. Prologis’s dividend payout ratio (DPR) 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.