Phocas Financial Corp. Invests $342,000 in Prologis, Inc. (NYSE:PLD)

Phocas Financial Corp. bought a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,240 shares of the real estate investment trust's stock, valued at approximately $342,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PLD. Cohen & Steers Inc. raised its position in Prologis by 3.2% during the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock valued at $2,994,557,000 after buying an additional 882,529 shares during the period. Geode Capital Management LLC raised its position in Prologis by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after buying an additional 610,251 shares during the period. FMR LLC raised its position in Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after buying an additional 1,875,978 shares during the period. Massachusetts Financial Services Co. MA raised its position in Prologis by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after buying an additional 334,907 shares during the period. Finally, Northern Trust Corp raised its position in Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after buying an additional 4,893,284 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of NYSE PLD traded down $0.59 during trading hours on Friday, hitting $108.64. 7,261,566 shares of the company's stock were exchanged, compared to its average volume of 4,165,353. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The stock has a market capitalization of $100.81 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 2.70 and a beta of 1.25. The company's 50-day moving average price is $103.94 and its 200-day moving average price is $110.59.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.72%. Prologis's dividend payout ratio (DPR) is 101.00%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Barclays dropped their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Evercore ISI dropped their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Mizuho dropped their price target on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company dropped their price target on Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Robert W. Baird lowered their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.