Prologis, Inc. (NYSE:PLD) Shares Acquired by Royal Bank of Canada

Royal Bank of Canada lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 3.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,686,333 shares of the real estate investment trust’s stock after buying an additional 150,200 shares during the quarter. Royal Bank of Canada’s holdings in Prologis were worth $495,347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis during the 4th quarter worth $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis during the 4th quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in shares of Prologis during the 4th quarter worth $30,000. Promus Capital LLC acquired a new position in shares of Prologis during the 4th quarter worth $34,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Prologis during the 4th quarter worth $34,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 1.2%

PLD opened at $110.56 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The stock has a market capitalization of $102.59 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The business has a 50-day moving average of $104.90 and a two-hundred day moving average of $111.12. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57.

Prologis (NYSE:PLD) last issued 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 return on equity of 6.44% and a net margin of 45.50%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. On average, research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLD. UBS Group lifted their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. BTIG Research cut their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Mizuho cut their target price on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Truist Financial cut their target price on shares of Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Finally, BMO Capital Markets cut their target price on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.84.

Prologis Company 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.