Prologis, Inc. (NYSE:PLD) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 2.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 202,671 shares of the real estate investment trust's stock after acquiring an additional 4,151 shares during the quarter. Cerity Partners LLC's holdings in Prologis were worth $22,657,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Cohen & Steers Inc. increased its position in shares of Prologis by 3.2% in the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock valued at $2,994,557,000 after buying an additional 882,529 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Prologis by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after buying an additional 610,251 shares in the last quarter. FMR LLC increased its position in shares of Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after buying an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after buying an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company dropped their price target on Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Truist Financial dropped their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Morgan Stanley dropped their price objective on Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Robert W. Baird dropped their price objective on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Scotiabank lifted their price objective on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and an average price target of $119.53.

Prologis Trading Up 0.6%

PLD traded up $0.64 during midday trading on Friday, hitting $109.05. The company's stock had a trading volume of 3,209,283 shares, compared to its average volume of 4,184,806. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. The firm has a market cap of $101.19 billion, a P/E ratio of 27.26, a PEG ratio of 2.77 and a beta of 1.23. The firm has a 50-day moving average price of $107.21 and a two-hundred day moving average price of $109.56. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. On average, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio is currently 101.00%.

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.