Pittenger & Anderson Inc. Increases Holdings in Prologis, Inc. (NYSE:PLD)

Pittenger & Anderson Inc. increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 138.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 431 shares of the real estate investment trust’s stock after buying an additional 250 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Prologis were worth $48,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PLD. Norges Bank purchased a new stake in Prologis in the fourth quarter valued at $951,263,000. Northern Trust Corp raised its position in Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares during the period. Valeo Financial Advisors LLC raised its position in Prologis by 282.5% in the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust’s stock valued at $433,229,000 after purchasing an additional 2,862,183 shares during the period. Capital Research Global Investors raised its position in Prologis by 25.4% in the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock valued at $1,304,922,000 after purchasing an additional 2,500,761 shares during the period. Finally, FMR LLC raised its position in Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PLD. UBS Group lifted their target price on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Mizuho reduced their target price on Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Scotiabank lifted their target price on Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a research report on Monday, May 12th. Finally, Wells Fargo & Company dropped their price objective on Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $119.53.

Prologis Trading Up 0.6%

PLD opened at $109.05 on Monday. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The stock has a market capitalization of $101.19 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 2.77 and a beta of 1.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. The business has a fifty day moving average price of $107.21 and a 200 day moving average price of $109.58.

Prologis (NYSE:PLD) last released its 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 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 analysts’ expectations of $1.99 billion. Sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.70%. Prologis’s dividend payout ratio is currently 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.