Bank of New York Mellon Corp Has $657.11 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Bank of New York Mellon Corp cut its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,878,084 shares of the real estate investment trust's stock after selling 94,162 shares during the period. Bank of New York Mellon Corp owned approximately 0.63% of Prologis worth $657,111,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Murphy & Mullick Capital Management Corp acquired a new stake in Prologis in the 4th quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new stake in Prologis in the 4th quarter worth about $27,000. 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 worth $31,000 after buying an additional 84 shares during the last quarter. Olde Wealth Management LLC acquired a new stake in Prologis in the 1st quarter worth about $43,000. Finally, Missouri Trust & Investment Co boosted its holdings in Prologis by 59.6% in the 1st quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock worth $45,000 after buying an additional 149 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE:PLD traded down $0.28 during trading on Friday, reaching $108.03. The company had a trading volume of 1,549,648 shares, compared to its average volume of 4,170,417. The firm's fifty day moving average is $106.82 and its 200 day moving average is $109.43. The firm has a market capitalization of $100.24 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.74 and a beta of 1.23. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. On average, equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLD. Barclays lowered their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a 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 cut their target price 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. Truist Financial cut their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Wells Fargo & Company cut their price objective on Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.