Federated Hermes Inc. Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Federated Hermes Inc. lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 17.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 423,700 shares of the real estate investment trust’s stock after selling 92,254 shares during the quarter. Federated Hermes Inc.’s holdings in Prologis were worth $56,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. RB Capital Management LLC grew its stake in shares of Prologis by 14.7% during the first quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock worth $485,000 after purchasing an additional 385 shares in the last quarter. Blair William & Co. IL boosted its stake in Prologis by 5.3% in the first quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock valued at $3,490,000 after acquiring an additional 1,092 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Prologis by 87.7% in the first quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock valued at $546,000 after acquiring an additional 1,580 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Prologis by 41.8% in the first quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock valued at $38,952,000 after acquiring an additional 71,112 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its stake in Prologis by 38.8% in the first quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of several research analyst reports. Raymond James upped their price objective on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Mizuho restated a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Evercore ISI decreased their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday. Morgan Stanley increased their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, UBS Group decreased their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Prologis Trading Down 1.1 %

Shares of PLD opened at $103.49 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. The firm has a 50 day simple moving average of $127.87 and a 200-day simple moving average of $122.02. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The stock has a market cap of $95.73 billion, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a return on equity of 5.49% and a net margin of 38.73%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the business earned $1.24 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts forecast that Prologis, Inc. will post 5.47 EPS for the current fiscal year.

Prologis Increases Dividend

The company 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. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.71%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is 112.28%.

Prologis Company Profile

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.