Cetera Investment Advisers Buys 36,040 Shares of Prologis, Inc. (NYSE:PLD)

Cetera Investment Advisers lifted its stake in Prologis, Inc. (NYSE:PLD) by 19.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,717 shares of the real estate investment trust’s stock after acquiring an additional 36,040 shares during the period. Cetera Investment Advisers’ holdings in Prologis were worth $24,786,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PLD. Cohen & Steers Inc. grew its stake in Prologis by 3.2% during the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock worth $2,994,557,000 after buying an additional 882,529 shares during the last quarter. Geode Capital Management LLC grew its stake in Prologis by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock worth $2,252,853,000 after buying an additional 610,251 shares during the last quarter. FMR LLC grew its stake in Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after buying an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Prologis by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock worth $1,754,282,000 after buying an additional 334,907 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock worth $1,464,509,000 after buying an additional 4,893,284 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PLD shares. Mizuho dropped their target price on Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. CJS Securities dropped their target price on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Robert W. Baird dropped their price target on Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Barclays dropped their price target on Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Finally, Truist Financial dropped their price target on Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. 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 MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.74.

Prologis Stock Up 0.5%

Shares of PLD 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 quick ratio of 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60. 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. The stock’s 50-day moving average price is $107.48 and its 200-day moving average price is $109.80.

Prologis (NYSE:PLD) last issued 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 company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. Prologis’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $1.34 earnings per share. On average, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a $1.01 dividend. 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 (DPR) is presently 109.49%.

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.