Patten & Patten Inc. TN Has $1.96 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Patten & Patten Inc. TN cut its position in shares of Prologis, Inc. (NYSE:PLD) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,531 shares of the real estate investment trust’s stock after selling 385 shares during the quarter. Patten & Patten Inc. TN’s holdings in Prologis were worth $1,960,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PLD. Brighton Jones LLC boosted its holdings in shares of Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after acquiring an additional 15,078 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Prologis by 9.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,346 shares of the real estate investment trust’s stock valued at $142,000 after acquiring an additional 113 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Prologis by 83.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust’s stock valued at $399,528,000 after buying an additional 1,723,129 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Prologis by 16.5% in the 4th quarter. California Public Employees Retirement System now owns 2,802,310 shares of the real estate investment trust’s stock valued at $296,204,000 after buying an additional 397,356 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Prologis by 59.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust’s stock worth $272,642,000 after purchasing an additional 964,454 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PLD shares. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an “overweight” rating in a research note on Sunday, July 13th. BMO Capital Markets lowered their price target on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Citigroup lowered their target price on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. UBS Group raised their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada decreased their price objective on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.74.

Prologis Trading Up 0.5%

Shares of PLD stock opened at $110.23 on Monday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19. The company has a 50-day simple moving average of $107.48 and a two-hundred day simple moving average of $109.80. The company has a market capitalization of $102.29 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.77 and a beta of 1.23.

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

Prologis Dividend Announcement

The business also recently announced 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. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Tuesday, June 17th. Prologis’s dividend payout ratio is currently 109.49%.

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.