Fifth Third Bancorp Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Fifth Third Bancorp lifted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 139,520 shares of the real estate investment trust's stock after buying an additional 4,834 shares during the quarter. Fifth Third Bancorp's holdings in Prologis were worth $15,597,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. REAP Financial Group LLC increased its position in Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares during the last quarter. Phoenix Financial Ltd. increased its position in Prologis by 1.0% in the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock worth $955,000 after purchasing an additional 86 shares during the last quarter. Black Diamond Financial LLC increased its position in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock worth $449,000 after purchasing an additional 93 shares during the last quarter. CreativeOne Wealth LLC increased its position in Prologis by 1.7% in the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock worth $642,000 after purchasing an additional 100 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its position in Prologis by 22.3% in the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PLD shares. Barclays reduced their price target on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley reduced their price target on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Evercore ISI reduced their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada cut their price objective on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Finally, Scotiabank boosted their price objective on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research report on Monday, May 12th. Two 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Trading Down 1.2%

Shares of PLD traded down $1.26 during trading hours on Friday, reaching $107.18. 3,359,339 shares of the company traded hands, compared to its average volume of 4,122,771. The firm has a market cap of $99.45 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock's fifty day moving average price is $104.61 and its 200 day moving average price is $110.11.

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 for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Sell-side analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is presently 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.