OLD Second National Bank of Aurora Has $2.99 Million Position in Prologis, Inc. (NYSE:PLD)

OLD Second National Bank of Aurora increased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 161.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 26,781 shares of the real estate investment trust's stock after purchasing an additional 16,523 shares during the period. OLD Second National Bank of Aurora's holdings in Prologis were worth $2,994,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis during the fourth quarter worth approximately $26,000. Crowley Wealth Management Inc. acquired a new position in Prologis during the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in Prologis during the 4th quarter valued at $30,000. REAP Financial Group LLC boosted 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 purchasing an additional 84 shares during the period. Finally, Promus Capital LLC acquired a new stake in Prologis in the 4th quarter worth $34,000. Institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

Prologis stock opened at $105.05 on Friday. The stock has a 50-day simple moving average of $105.43 and a 200 day simple moving average of $109.85. The stock has a market capitalization of $97.48 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 2.67 and a beta of 1.25. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping 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 analysts' expectations of $1.99 billion. On average, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio is 101.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PLD shares. Evercore ISI reduced their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, April 17th. CJS Securities reduced their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Wolfe Research cut Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Mizuho cut their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $120.42.

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.

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