Prologis, Inc. (NYSE:PLD) Shares Purchased by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in Prologis, Inc. by 10.2%, owning around 3.2 million shares worth approximately $360.72 million as of the latest SEC filing.
• Prologis has reported a quarterly EPS of $1.46, exceeding analysts' expectations of $1.41, alongside revenues of $2.03 billion.
• The company's recent dividend announcement indicates a payout of $1.01 per share, representing an annualized dividend of $4.04 and a yield of 3.77%.

Federated Hermes Inc. boosted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 10.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,226,731 shares of the real estate investment trust's stock after acquiring an additional 298,906 shares during the period. Prologis accounts for approximately 0.8% of Federated Hermes Inc.'s portfolio, making the stock its 21st largest holding. Federated Hermes Inc. owned approximately 0.35% of Prologis worth $360,716,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Meeder Advisory Services Inc. raised its stake in Prologis by 6.0% in the first quarter. Meeder Advisory Services Inc. now owns 15,098 shares of the real estate investment trust's stock valued at $1,688,000 after purchasing an additional 860 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in Prologis by 17.4% in the first quarter. Foundations Investment Advisors LLC now owns 3,511 shares of the real estate investment trust's stock valued at $392,000 after acquiring an additional 520 shares in the last quarter. Lazard Freres Gestion S.A.S. boosted its holdings in shares of Prologis by 136.8% during the 1st quarter. Lazard Freres Gestion S.A.S. now owns 12,880 shares of the real estate investment trust's stock valued at $1,439,000 after buying an additional 7,440 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Prologis by 35.6% in the 1st quarter. Mackenzie Financial Corp now owns 127,223 shares of the real estate investment trust's stock worth $14,222,000 after purchasing an additional 33,433 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its stake in Prologis by 2.5% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 83,982 shares of the real estate investment trust's stock worth $9,388,000 after purchasing an additional 2,076 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Trading Down 1.4%

NYSE:PLD traded down $1.53 during trading hours on Friday, hitting $105.25. The company had a trading volume of 3,826,782 shares, compared to its average volume of 4,604,603. The company has a current ratio of 0.19, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $107.55 and a 200 day moving average of $109.83. The company has a market cap of $97.66 billion, a P/E ratio of 28.52, a P/E/G ratio of 2.72 and a beta of 1.23. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The firm's quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.34 EPS. Sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current 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 issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.8%. Prologis's dividend payout ratio is currently 109.49%.

Analyst Ratings Changes

PLD has been the subject of several research reports. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Mizuho dropped their price objective on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Scotiabank boosted their target price on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research note on Monday, May 12th. Truist Financial decreased their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, CJS Securities dropped their price target on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and an average target price of $120.74.

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.