Johnson Investment Counsel Inc. increased its holdings in Prologis, Inc. (NYSE:PLD – Free Report) by 10.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 13,832 shares of the real estate investment trust’s stock after acquiring an additional 1,259 shares during the period. Johnson Investment Counsel Inc.’s holdings in Prologis were worth $1,546,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in PLD. REAP Financial Group LLC grew its holdings in shares of 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 purchasing an additional 84 shares during the period. Phoenix Financial Ltd. boosted its stake in Prologis by 1.0% during the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock worth $955,000 after buying an additional 86 shares during the period. Black Diamond Financial LLC boosted its stake in Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock worth $449,000 after buying an additional 93 shares during the period. CreativeOne Wealth LLC boosted its stake in Prologis by 1.7% during the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust’s stock worth $642,000 after buying an additional 100 shares during the period. Finally, J.Safra Asset Management Corp boosted its stake in Prologis by 22.3% during the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 102 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently weighed in on PLD shares. Scotiabank increased their price objective on shares of Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research report on Monday, May 12th. Wells Fargo & Company lowered their price target on Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Evercore ISI lowered their price target on Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research report on Thursday, April 17th. Wall Street Zen lowered Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Finally, Truist Financial lowered their target price on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a report on Monday, May 5th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.42.
Prologis Price Performance
Prologis stock opened at $105.67 on Friday. The stock has a market cap of $98.05 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The company has a fifty day simple moving average of $105.62 and a 200-day simple moving average of $109.77. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56.
Prologis (NYSE:PLD – Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. Equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.
Prologis Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.82%. Prologis’s dividend payout ratio is presently 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.
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