Coastline Trust Co Boosts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Coastline Trust Co raised its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1,118.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,484 shares of the real estate investment trust's stock after acquiring an additional 3,198 shares during the quarter. Coastline Trust Co's holdings in Prologis were worth $389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Klingenstein Fields & Co. LP boosted its position in Prologis by 0.6% during the first quarter. Klingenstein Fields & Co. LP now owns 190,756 shares of the real estate investment trust's stock worth $21,325,000 after acquiring an additional 1,189 shares during the last quarter. Arbor Capital Management Inc. ADV raised its holdings in Prologis by 3.6% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 12,260 shares of the real estate investment trust's stock valued at $1,364,000 after acquiring an additional 431 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Prologis by 22.6% in the 1st quarter. DAVENPORT & Co LLC now owns 34,877 shares of the real estate investment trust's stock worth $3,899,000 after purchasing an additional 6,424 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of Prologis by 6.9% during the 1st quarter. Summit Trail Advisors LLC now owns 12,159 shares of the real estate investment trust's stock worth $1,359,000 after purchasing an additional 788 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Prologis by 2.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock valued at $33,249,000 after purchasing an additional 6,350 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Up 1.7%

Prologis stock opened at $108.36 on Thursday. The company has a market capitalization of $100.55 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 2.70 and a beta of 1.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The firm has a 50 day moving average price of $106.61 and a 200 day moving average price of $109.40.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The business 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%. Research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.73%. Prologis's dividend payout ratio is presently 101.00%.

Wall Street Analyst Weigh In

PLD has been the subject of several recent research reports. Robert W. Baird cut their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Barclays cut their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Evercore ISI lowered their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Finally, Truist Financial cut their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $120.42.

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.

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