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Banque Cantonale Vaudoise Makes New $1.17 Million Investment in Prologis, Inc. (NYSE:PLD)

Prologis logo with Finance background

Key Points

  • Banque Cantonale Vaudoise made a new investment in Prologis, Inc. (NYSE:PLD), purchasing 10,481 shares valued at approximately $1.17 million.
  • Analysts have recently revised their price targets for Prologis, with Evercore ISI lowering its target from $111.00 to $106.00, indicating a mixed sentiment among market analysts.
  • Prologis declared a quarterly dividend of $1.01 per share, representing an annualized dividend yield of 3.8%, despite a payout ratio of 109.49%.
  • MarketBeat previews top five stocks to own in September.

Banque Cantonale Vaudoise purchased a new position in Prologis, Inc. (NYSE:PLD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,481 shares of the real estate investment trust's stock, valued at approximately $1,172,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. REAP Financial Group LLC lifted its position in Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after buying an additional 84 shares during the last quarter. Olde Wealth Management LLC bought a new stake in Prologis in the first quarter worth $43,000. Cornerstone Planning Group LLC lifted its position in Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after buying an additional 152 shares during the last quarter. Missouri Trust & Investment Co lifted its position in Prologis by 59.6% in the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock worth $45,000 after buying an additional 149 shares during the last quarter. Finally, Bogart Wealth LLC lifted its position in Prologis by 56.2% in the first quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock worth $47,000 after buying an additional 150 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Evercore ISI lowered their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research report on Thursday, April 17th. Truist Financial lowered their price target on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. CJS Securities reduced their target price on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Royal Bank Of Canada reduced their target price on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.74.

Check Out Our Latest Report on Prologis

Prologis Price Performance

PLD opened at $106.81 on Friday. The business's 50-day moving average is $107.55 and its two-hundred day moving average is $109.83. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.19 and a quick ratio of 0.41. The firm has a market capitalization of $99.11 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 2.72 and a beta of 1.23.

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 for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The company's revenue was up 8.8% on a year-over-year basis. Research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.8%. Prologis's payout ratio is presently 109.49%.

Prologis Profile

(Free Report)

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.

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Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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