DekaBank Deutsche Girozentrale Has $134.77 Million Stake in Prologis, Inc. (NYSE:PLD)

DekaBank Deutsche Girozentrale raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,220,520 shares of the real estate investment trust's stock after buying an additional 20,708 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.13% of Prologis worth $134,774,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Cohen & Steers Inc. boosted its holdings in Prologis by 3.2% in the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after acquiring an additional 882,529 shares in the last quarter. Geode Capital Management LLC increased its position in Prologis by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after buying an additional 610,251 shares in the last quarter. FMR LLC increased its position in Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after buying an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Prologis by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after purchasing an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLD. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Mizuho dropped their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. CJS Securities dropped their price target on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Finally, Wells Fargo & Company lowered their target price on Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.53.

Prologis Stock Performance

Shares of NYSE:PLD traded up $0.51 on Tuesday, hitting $106.84. 2,937,426 shares of the company were exchanged, compared to its average volume of 4,164,186. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41. The company's 50 day moving average price is $106.87 and its two-hundred day moving average price is $109.50. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The firm has a market capitalization of $99.14 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 2.74 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results 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 net margin of 44.59% and a return on equity of 6.45%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's payout ratio is presently 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.