Saturna Capital Corp Raises Holdings in Prologis, Inc. (NYSE:PLD)

Saturna Capital Corp lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,757 shares of the real estate investment trust’s stock after buying an additional 925 shares during the period. Saturna Capital Corp’s holdings in Prologis were worth $1,314,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new position in Prologis in the 4th quarter valued at approximately $26,000. Crowley Wealth Management Inc. acquired a new position in Prologis in the fourth quarter valued at $27,000. REAP Financial Group LLC lifted its stake in shares of 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 purchasing an additional 84 shares in the last quarter. Olde Wealth Management LLC acquired a new position in shares of Prologis during the first quarter worth about $43,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 152 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on PLD shares. Robert W. Baird lowered their target price on Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Wolfe Research downgraded Prologis from an “outperform” rating to a “peer perform” rating in a research report on Monday, April 21st. Truist Financial cut their target price on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Mizuho reduced their price objective on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, BMO Capital Markets reduced their price objective on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.47.

Prologis Stock Down 3.3%

Shares of PLD opened at $106.51 on Friday. The company has a 50-day moving average price of $107.49 and a two-hundred day moving average price of $109.61. The company has a quick ratio of 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The stock has a market cap of $98.83 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 2.77 and a beta of 1.23.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.34 EPS. Equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 yield of 3.79%. Prologis’s dividend payout ratio (DPR) 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.