Commerce Bank Increases Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• Commerce Bank increased its stake in Prologis, Inc. by 7.7% during the first quarter, owning approximately 571,751 shares valued at $63.9 million.
• Prologis reported $1.46 EPS for the last quarter, beating expectations, and had a revenue of $2.03 billion, reflecting an 8.8% increase year-over-year.
• The company declared a quarterly dividend of $1.01 per share, with an annualized yield of 3.8%, though its payout ratio stands at 109.49%.

Commerce Bank raised its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 571,751 shares of the real estate investment trust's stock after buying an additional 41,047 shares during the quarter. Commerce Bank owned about 0.06% of Prologis worth $63,916,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PLD. REAP Financial Group LLC increased its holdings in shares of Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Olde Wealth Management LLC bought a new stake in shares of Prologis in the 1st quarter worth $43,000. Cornerstone Planning Group LLC increased its holdings in shares of Prologis by 63.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 152 shares in the last quarter. Missouri Trust & Investment Co grew its holdings in shares of 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 acquiring an additional 149 shares during the period. Finally, Bogart Wealth LLC lifted its position in Prologis by 56.2% during the first quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Stock Down 1.6%

PLD stock opened at $106.81 on Friday. The firm has a market cap of $99.11 billion, a PE ratio of 28.94, a PEG ratio of 2.72 and a beta of 1.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19. The firm's 50 day moving average price is $107.55 and its 200-day moving average price is $109.83. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57.

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

Prologis Dividend Announcement

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

Wall Street Analysts Forecast Growth

PLD has been the topic of several research analyst reports. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Citigroup decreased their target price on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. BMO Capital Markets decreased their target price on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Barclays decreased their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, Scotiabank boosted their target price 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have issued 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.

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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