SVB Wealth LLC Has $1.30 Million Stock Position in Prologis, Inc. (NYSE:PLD)

SVB Wealth LLC lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 8.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,716 shares of the real estate investment trust’s stock after selling 858 shares during the period. SVB Wealth LLC’s holdings in Prologis were worth $1,295,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Columbia Trust Co 01012016 raised its holdings in shares of Prologis by 16.0% during the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after buying an additional 723 shares in the last quarter. Cyndeo Wealth Partners LLC increased its holdings in Prologis by 39.4% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock worth $5,599,000 after purchasing an additional 11,882 shares in the last quarter. DNB Asset Management AS increased its holdings in Prologis by 17.1% in the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after purchasing an additional 42,073 shares in the last quarter. Grassi Investment Management increased its holdings in Prologis by 31.8% in the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after purchasing an additional 60,900 shares in the last quarter. Finally, Selway Asset Management acquired a new position in Prologis in the 3rd quarter worth about $177,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLD. Morgan Stanley upped their target price on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. UBS Group lowered their target price on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Raymond James increased their price target on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Finally, Barclays decreased their price target on Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.00.

Prologis Stock Down 1.7 %

Shares of Prologis stock opened at $104.67 on Friday. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s 50-day moving average is $128.45 and its 200 day moving average is $122.07. The firm has a market cap of $96.82 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 2.29 and a beta of 1.00.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the company earned $1.24 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.67%. Prologis’s dividend payout ratio is presently 116.72%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.