BNP Paribas Buys 11,274 Shares of Prologis, Inc. (NYSE:PLD)

BNP Paribas boosted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 157,485 shares of the real estate investment trust's stock after acquiring an additional 11,274 shares during the quarter. BNP Paribas' holdings in Prologis were worth $16,705,000 as of its most recent SEC filing.

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

Prologis Stock Up 0.6 %

PLD traded up $0.60 during trading hours on Wednesday, hitting $105.10. 4,741,210 shares of the company's stock were exchanged, compared to its average volume of 4,149,239. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The stock's 50-day moving average is $106.98 and its two-hundred day moving average is $111.64. The stock has a market cap of $97.53 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. Sell-side analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.84%. This is a boost from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PLD shares. Scotiabank restated a "sector underperform" rating and set a $97.00 target price (down from $133.00) on shares of Prologis in a research report on Monday, April 7th. Truist Financial reduced their price target on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday. Mizuho dropped their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Finally, BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.