D.A. Davidson & CO. Boosts Stake in Prologis, Inc. (NYSE:PLD)

D.A. Davidson & CO. raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 109.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 186,748 shares of the real estate investment trust's stock after purchasing an additional 97,760 shares during the quarter. D.A. Davidson & CO.'s holdings in Prologis were worth $20,877,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Aviva PLC boosted its holdings in Prologis by 36.6% in the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock valued at $73,481,000 after acquiring an additional 186,187 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after buying an additional 179,880 shares during the period. Allstate Corp raised its stake in Prologis by 111.7% in the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock worth $7,877,000 after buying an additional 39,321 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in Prologis by 1,451.2% in the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock worth $3,486,000 after buying an additional 29,170 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its position in Prologis by 3.1% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock valued at $615,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of several research reports. Morgan Stanley dropped their price target on Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Robert W. Baird cut their price objective on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Evercore ISI reduced their price objective on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research report on Thursday, April 17th. Finally, BMO Capital Markets reduced their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Two equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $120.42.

Prologis Price Performance

Shares of PLD stock traded down $0.28 during trading hours on Thursday, hitting $108.03. The stock had a trading volume of 1,549,648 shares, compared to its average volume of 4,162,745. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. The stock has a market capitalization of $100.24 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.75 and a beta of 1.23. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The stock's 50-day moving average price is $106.61 and its two-hundred day moving average price is $109.40.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.45% and a net margin of 44.59%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced 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. This represents a $4.04 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio is 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.