Prologis, Inc. (NYSE:PLD) Stock Holdings Lifted by Phoenix Financial Ltd.

Phoenix Financial Ltd. lifted its position in Prologis, Inc. (NYSE:PLD) by 35.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,272 shares of the real estate investment trust’s stock after acquiring an additional 3,240 shares during the period. Phoenix Financial Ltd.’s holdings in Prologis were worth $1,377,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PLD. Aviva PLC boosted its holdings in shares of Prologis by 36.6% during the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock worth $73,481,000 after purchasing an additional 186,187 shares during the period. Alley Investment Management Company LLC boosted its holdings in shares of Prologis by 102.8% during the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock worth $12,111,000 after purchasing an additional 54,914 shares during the period. Allstate Corp boosted its holdings in shares of Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock worth $7,877,000 after purchasing an additional 39,321 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in shares of Prologis by 1,451.2% during the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust’s stock worth $3,486,000 after purchasing an additional 29,170 shares during the period. Finally, Truist Financial Corp boosted its holdings in shares of Prologis by 9.3% during the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock worth $33,232,000 after purchasing an additional 25,229 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of NYSE PLD opened at $110.23 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $107.48 and its two-hundred day moving average is $109.74. The company has a market cap of $102.29 billion, a P/E ratio of 29.87, a P/E/G ratio of 2.75 and a beta of 1.23. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57.

Prologis (NYSE:PLD) last released its earnings results 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 firm had revenue of $2.03 billion during 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 business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.34 EPS. On average, equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis’s payout ratio is presently 109.49%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PLD. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. Mizuho reduced their target price on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. CJS Securities reduced their target price on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Wall Street Zen cut shares of Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Finally, Barclays reduced their target price on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Two equities 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.74.

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.