Prologis, Inc. (NYSE:PLD) Shares Purchased by Ethic Inc.

Ethic Inc. raised its position in Prologis, Inc. (NYSE:PLD) by 12.1% in the 4th quarter, Holdings Channel reports. The fund owned 92,056 shares of the real estate investment trust’s stock after purchasing an additional 9,915 shares during the period. Ethic Inc.’s holdings in Prologis were worth $9,730,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PLD. Wealth Enhancement Advisory Services LLC grew its position in Prologis by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 48,108 shares of the real estate investment trust’s stock valued at $5,085,000 after buying an additional 1,898 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Prologis by 3.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 19,706 shares of the real estate investment trust’s stock valued at $2,083,000 after acquiring an additional 712 shares during the period. RMR Wealth Builders lifted its position in Prologis by 22.7% during the 4th quarter. RMR Wealth Builders now owns 2,633 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 487 shares in the last quarter. Czech National Bank increased its position in Prologis by 6.5% in the fourth quarter. Czech National Bank now owns 200,813 shares of the real estate investment trust’s stock worth $21,226,000 after purchasing an additional 12,195 shares during the period. Finally, Green Alpha Advisors LLC increased its stake in Prologis by 1.5% in the fourth quarter. Green Alpha Advisors LLC now owns 10,320 shares of the real estate investment trust’s stock valued at $1,091,000 after purchasing an additional 152 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PLD shares. UBS Group raised their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Scotiabank restated a “sector underperform” rating and set a $97.00 price target (down previously from $133.00) on shares of Prologis in a report on Monday, April 7th. Evercore ISI lowered their target price on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday, April 17th. Robert W. Baird reduced their target price on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada lowered their target price on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.68.

Prologis Stock Performance

Shares of NYSE:PLD opened at $105.46 on Friday. The firm has a market capitalization of $97.85 billion, a PE ratio of 26.36, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The business’s 50 day moving average price is $106.25 and its 200-day moving average price is $111.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. As a group, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.83%. Prologis’s payout ratio is 101.00%.

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.