Bank Julius Baer & Co. Ltd Zurich Increases Stake in Prologis, Inc. (NYSE:PLD)

Bank Julius Baer & Co. Ltd Zurich grew its position in Prologis, Inc. (NYSE:PLD - Free Report) by 829.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,343 shares of the real estate investment trust's stock after purchasing an additional 13,693 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Prologis were worth $1,715,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PLD. Murphy & Mullick Capital Management Corp purchased a new position in shares of Prologis during the fourth quarter worth approximately $26,000. REAP Financial Group LLC raised its stake in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 84 shares in the last quarter. Olde Wealth Management LLC purchased a new position in shares of Prologis during the first quarter worth approximately $43,000. Cornerstone Planning Group LLC raised its stake in shares of Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 152 shares in the last quarter. Finally, Missouri Trust & Investment Co raised its stake in shares of Prologis by 59.6% during the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 149 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on PLD shares. Mizuho decreased 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. BMO Capital Markets reduced their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Citigroup reduced their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday. Robert W. Baird dropped their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $120.74.

Prologis Trading Down 0.2%

PLD traded down $0.24 during trading on Thursday, reaching $109.76. The company had a trading volume of 6,208,847 shares, compared to its average volume of 4,696,875. The stock has a market cap of $101.85 billion, a P/E ratio of 29.74, a PEG ratio of 2.76 and a beta of 1.23. The business has a 50 day simple moving average of $107.49 and a 200-day simple moving average of $109.72. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a quick ratio of 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. Prologis's revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $1.34 earnings per share. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were paid a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.68%. Prologis's payout ratio is 109.49%.

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.