Colonial Trust Co SC Raises Holdings in Prologis, Inc. (NYSE:PLD)

Colonial Trust Co SC lifted its position in Prologis, Inc. (NYSE:PLD) by 17.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,194 shares of the real estate investment trust’s stock after purchasing an additional 175 shares during the quarter. Colonial Trust Co SC’s holdings in Prologis were worth $126,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis during the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis during the fourth quarter valued at $27,000. Centricity Wealth Management LLC bought a new position in Prologis during the fourth quarter valued at $30,000. Whipplewood Advisors LLC purchased a new position in shares of Prologis in the 4th quarter worth $34,000. Finally, Promus Capital LLC bought a new stake in shares of Prologis in the 4th quarter worth about $34,000. 93.50% of the stock is owned by institutional investors.

Prologis Stock Up 0.4 %

Shares of NYSE PLD opened at $105.46 on Friday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The firm has a market capitalization of $97.85 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.70 and a beta of 1.25. The stock has a 50 day moving average price of $106.25 and a 200 day moving average price of $111.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating 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 analyst estimates of $1.99 billion. Sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

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

Analysts Set New Price Targets

PLD has been the subject of a number of analyst reports. Evercore ISI lowered their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. Robert W. Baird lowered their price objective on Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday. UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Finally, Mizuho reduced their target price on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.68.

About Prologis

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.