First Citizens Bank & Trust Co. Boosts Holdings in Prologis, Inc. (NYSE:PLD)

First Citizens Bank & Trust Co. raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 1,451.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,180 shares of the real estate investment trust's stock after acquiring an additional 29,170 shares during the period. First Citizens Bank & Trust Co.'s holdings in Prologis were worth $3,486,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp bought a new stake in Prologis during the 4th quarter worth $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis during the fourth quarter worth about $27,000. Centricity Wealth Management LLC acquired a new position in shares of Prologis in the fourth quarter valued at approximately $30,000. REAP Financial Group LLC raised its holdings in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 84 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in Prologis during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLD. Wall Street Zen raised Prologis from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Mizuho cut their price objective 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 decreased their target price on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Robert W. Baird lowered their price target on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Evercore ISI dropped 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $120.42.

Prologis Stock Performance

Prologis stock traded up $0.57 during trading on Tuesday, hitting $109.50. The stock had a trading volume of 3,771,649 shares, compared to its average volume of 4,145,479. The stock's 50 day moving average is $103.61 and its two-hundred day moving average is $110.31. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The stock has a market cap of $101.61 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. As a group, analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.69%. Prologis's payout ratio is 101.00%.

About Prologis

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.