Prologis, Inc. (NYSE:PLD) Stock Position Lifted by Choreo LLC

Choreo LLC raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 14.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,460 shares of the real estate investment trust's stock after buying an additional 2,441 shares during the quarter. Choreo LLC's holdings in Prologis were worth $2,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Prologis during the 4th quarter valued at $951,263,000. Northern Trust Corp grew its position in Prologis by 54.6% during 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 acquiring an additional 4,893,284 shares during the period. Valeo Financial Advisors LLC increased its stake in Prologis by 282.5% during the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock worth $433,229,000 after acquiring an additional 2,862,183 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Prologis by 25.4% in the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after purchasing an additional 2,500,761 shares during the period. Finally, FMR LLC grew its holdings in shares of Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

Prologis stock traded up $0.51 during mid-day trading on Friday, reaching $110.23. The company's stock had a trading volume of 2,150,671 shares, compared to its average volume of 4,782,002. The firm has a market cap of $102.29 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.77 and a beta of 1.23. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The business has a 50 day moving average price of $107.48 and a 200-day moving average price of $109.77. The company has a current ratio of 0.19, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.66%. Prologis's payout ratio is currently 109.49%.

Analyst Ratings Changes

Several brokerages recently issued reports on PLD. Truist Financial lowered their price target on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Scotiabank raised their target price on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Barclays reduced their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird lowered their price objective on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Citigroup reduced their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $120.74.

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.