Prologis, Inc. (NYSE:PLD) Shares Acquired by Sunflower Bank N.A.

Sunflower Bank N.A. increased its stake in Prologis, Inc. (NYSE:PLD) by 25.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,460 shares of the real estate investment trust’s stock after acquiring an additional 492 shares during the period. Sunflower Bank N.A.’s holdings in Prologis were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Coronation Fund Managers Ltd. purchased a new stake in shares of Prologis during the second quarter worth approximately $878,000. Cardano Risk Management B.V. increased its position in shares of Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after purchasing an additional 25,266 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after purchasing an additional 29,400 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of Prologis during the 3rd quarter worth $1,051,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Prologis by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after purchasing an additional 317,815 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PLD shares. JPMorgan Chase & Co. cut their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Truist Financial lowered their price objective on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.06.

Prologis Price Performance

NYSE:PLD traded up $1.78 during trading hours on Monday, reaching $105.37. 5,756,495 shares of the company traded hands, compared to its average volume of 4,385,279. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The firm’s 50-day moving average is $110.94 and its 200-day moving average is $118.50. The stock has a market cap of $97.59 billion, a P/E ratio of 31.83, a P/E/G ratio of 3.27 and a beta of 1.09.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 earnings per share. Equities research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.64%. Prologis’s payout ratio is currently 116.01%.

Prologis 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.