Davidson Trust Co. Invests $568,000 in Prologis, Inc. (NYSE:PLD)

Davidson Trust Co. purchased a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,085 shares of the real estate investment trust's stock, valued at approximately $568,000.

Several other hedge funds have also recently modified their holdings of the stock. Cohen & Steers Inc. raised its holdings in Prologis by 3.2% in the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock valued at $2,994,557,000 after acquiring an additional 882,529 shares during the last quarter. Geode Capital Management LLC raised its holdings in Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after acquiring an additional 610,251 shares during the last quarter. FMR LLC raised its holdings in Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after acquiring an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Prologis by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after acquiring an additional 334,907 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Prologis by 54.6% in the 4th 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 last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Trading Down 0.3%

Prologis stock traded down $0.28 during trading on Friday, hitting $108.03. The company had a trading volume of 1,549,648 shares, compared to its average volume of 4,162,745. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. The company's 50 day simple moving average is $106.70 and its 200-day simple moving average is $109.39. The stock has a market cap of $100.24 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 2.75 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, analysts expect 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. Shareholders 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 annualized dividend and a yield of 3.74%. Prologis's dividend payout ratio is presently 101.00%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. CJS Securities cut their price objective on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Scotiabank increased their price objective on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Finally, Evercore ISI cut their price objective on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.42.

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.