Cullen Frost Bankers Inc. Has $6.15 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Cullen Frost Bankers Inc. boosted its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 19.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,050 shares of the real estate investment trust's stock after acquiring an additional 8,905 shares during the period. Cullen Frost Bankers Inc.'s holdings in Prologis were worth $6,154,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bridgewater Advisors Inc. bought a new stake in shares of Prologis in the 1st quarter valued at approximately $324,000. Larson Financial Group LLC grew its stake in shares of Prologis by 17.1% in the 1st quarter. Larson Financial Group LLC now owns 22,267 shares of the real estate investment trust's stock valued at $2,489,000 after purchasing an additional 3,246 shares during the period. Sage Mountain Advisors LLC grew its stake in shares of Prologis by 9.9% in the 1st quarter. Sage Mountain Advisors LLC now owns 4,838 shares of the real estate investment trust's stock valued at $541,000 after purchasing an additional 436 shares during the period. Wealthfront Advisers LLC grew its stake in shares of Prologis by 52.6% in the 1st quarter. Wealthfront Advisers LLC now owns 72,478 shares of the real estate investment trust's stock valued at $8,102,000 after purchasing an additional 24,984 shares during the period. Finally, Graybill Wealth Management LTD. bought a new stake in shares of Prologis in the 1st quarter valued at approximately $3,852,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PLD shares. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. CJS Securities reduced their target price on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Mizuho reduced their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, 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 report on Tuesday, April 29th. Two 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.47.

Prologis Price Performance

Shares of NYSE PLD traded up $0.26 during midday trading on Friday, reaching $106.69. The company's stock had a trading volume of 4,481,494 shares, compared to its average volume of 4,213,027. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The business's 50 day moving average price is $107.49 and its two-hundred day moving average price is $109.61. The company has a market cap of $99.00 billion, a P/E ratio of 28.91, a P/E/G ratio of 2.77 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results 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 company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $1.34 earnings per share. The firm's quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts forecast that Prologis, Inc. will post 5.73 EPS 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 given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.79%. Prologis's payout ratio is 101.00%.

Prologis 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.