Prologis, Inc. (NYSE:PLD) Stock Holdings Increased by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC lifted its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 40.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 175,000 shares of the real estate investment trust's stock after acquiring an additional 50,000 shares during the period. Prologis accounts for 1.3% of Pacific Heights Asset Management LLC's portfolio, making the stock its 15th biggest holding. Pacific Heights Asset Management LLC's holdings in Prologis were worth $19,563,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Aviva PLC boosted its position in Prologis by 36.6% during the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock worth $73,481,000 after acquiring an additional 186,187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after purchasing an additional 179,880 shares in the last quarter. Allstate Corp raised its stake in shares of Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after purchasing an additional 39,321 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in Prologis by 1,451.2% in the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock worth $3,486,000 after purchasing an additional 29,170 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its position in Prologis by 3.1% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock valued at $615,000 after buying an additional 167 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Trading Down 0.3%

NYSE PLD traded down $0.28 on Friday, hitting $108.03. 1,549,648 shares of the company were exchanged, compared to its average volume of 4,162,745. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The firm has a market capitalization of $100.24 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 2.74 and a beta of 1.23. The company's 50 day moving average price is $106.70 and its 200-day moving average price is $109.39.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results 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 business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.74%. The ex-dividend date was Tuesday, June 17th. Prologis's payout ratio is 101.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PLD shares. BMO Capital Markets dropped their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Barclays decreased their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company dropped their price objective 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 assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $120.42.

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.