Crestwood Advisors Group LLC grew its stake in Prologis, Inc. (NYSE:PLD – Free Report) by 23.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,762 shares of the real estate investment trust’s stock after buying an additional 525 shares during the period. Crestwood Advisors Group LLC’s holdings in Prologis were worth $309,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. Cohen & Steers Inc. raised its position in shares of Prologis by 3.2% during the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock valued at $2,994,557,000 after buying an additional 882,529 shares during the last quarter. Geode Capital Management LLC raised its holdings in Prologis by 2.9% in the fourth 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 purchasing an additional 610,251 shares in the last quarter. FMR LLC raised its holdings in Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Prologis by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock valued at $1,754,282,000 after acquiring an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Prologis by 54.6% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.
Wall Street Analysts Forecast Growth
PLD has been the subject of a number of recent research reports. Truist Financial cut their target price on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an “overweight” rating in a research note on Sunday, July 13th. Wolfe Research downgraded Prologis from an “outperform” rating to a “peer perform” rating in a research note on Monday, April 21st. Robert W. Baird cut their price objective on Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, Mizuho cut their price objective on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.74.
Read Our Latest Stock Report on Prologis
Prologis Price Performance
PLD opened at $110.04 on Thursday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The stock has a fifty day moving average price of $107.48 and a 200 day moving average price of $109.70. The stock has a market cap of $102.11 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.74 and a beta of 1.23. The company has a current ratio of 0.19, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60.
Prologis (NYSE:PLD – Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $1.34 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.
Prologis Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis’s dividend payout ratio (DPR) is currently 109.49%.
Prologis Profile
(Free Report)
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.
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