Federated Hermes Inc. Has $360.72 Million Position in Prologis, Inc. (NYSE:PLD)

Federated Hermes Inc. increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 10.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,226,731 shares of the real estate investment trust’s stock after buying an additional 298,906 shares during the quarter. Prologis comprises approximately 0.8% of Federated Hermes Inc.’s investment portfolio, making the stock its 21st biggest position. Federated Hermes Inc. owned about 0.35% of Prologis worth $360,716,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. 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 valued at $1,847,000 after purchasing an additional 15,078 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings 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 in the last quarter. AIA Group Ltd raised its position in Prologis by 1.9% during the 4th quarter. AIA Group Ltd now owns 422,728 shares of the real estate investment trust’s stock worth $44,682,000 after purchasing an additional 7,746 shares during the last quarter. Axiom Investors LLC DE raised its position in Prologis by 21.8% during the 4th quarter. Axiom Investors LLC DE now owns 647,801 shares of the real estate investment trust’s stock worth $68,473,000 after purchasing an additional 116,086 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its position in Prologis by 26.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 16,398 shares of the real estate investment trust’s stock worth $1,733,000 after purchasing an additional 3,478 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 2.8%

Shares of PLD stock opened at $107.17 on Tuesday. The stock has a market capitalization of $99.45 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 2.77 and a beta of 1.23. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company’s fifty day simple moving average is $107.42 and its two-hundred day simple moving average is $109.83. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.19 and a quick ratio of 0.41.

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 analysts’ consensus estimates 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 return on equity of 5.96% and a net margin of 40.29%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 earnings per share. As a group, analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.77%. Prologis’s dividend payout ratio (DPR) is currently 109.49%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PLD shares. Royal Bank Of Canada lowered their price objective on Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Barclays decreased their target price on Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an “overweight” rating in a report on Sunday, July 13th. Wolfe Research lowered Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. Finally, Morgan Stanley cut their target price on Prologis to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $120.74.

Prologis Company 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.