Toronto Dominion Bank Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Toronto Dominion Bank increased its holdings in Prologis, Inc. (NYSE:PLD) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 498,725 shares of the real estate investment trust’s stock after buying an additional 37,661 shares during the period. Toronto Dominion Bank’s holdings in Prologis were worth $52,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Prologis in the fourth quarter valued at about $951,263,000. Northern Trust Corp increased its position in Prologis by 54.6% in the 4th 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 acquiring an additional 4,893,284 shares during the period. Capital Research Global Investors raised its stake in Prologis by 25.4% during the 4th 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 acquiring an additional 2,500,761 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Prologis during the 4th quarter worth approximately $254,876,000. Finally, FMR LLC grew its stake in shares of Prologis by 11.7% in the 4th 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 last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD stock opened at $110.56 on Friday. The stock’s 50 day moving average price is $104.90 and its 200 day moving average price is $111.09. The firm has a market cap of $102.59 billion, a P/E ratio of 27.64, a PEG ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio is presently 101.00%.

Analysts Set New Price Targets

PLD has been the subject of several analyst reports. Scotiabank upped their price target on Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research note on Monday, May 12th. UBS Group raised their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada dropped their price target 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. Wolfe Research downgraded shares of Prologis from an “outperform” rating to a “peer perform” rating in a research report on Monday, April 21st. Finally, Mizuho cut their target price on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight 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 stock has a consensus rating of “Moderate Buy” and an average price target of $121.84.

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.