Commerzbank Aktiengesellschaft FI Purchases 14,444 Shares of Prologis, Inc. (NYSE:PLD)

Commerzbank Aktiengesellschaft FI grew its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 56.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,066 shares of the real estate investment trust's stock after acquiring an additional 14,444 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Prologis were worth $4,479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aviva PLC increased its stake in Prologis by 36.6% during the fourth 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 last quarter. Alley Investment Management Company LLC boosted its position in shares of Prologis by 102.8% in the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after buying an additional 54,914 shares during the period. Allstate Corp boosted its position in shares of Prologis by 111.7% in the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock worth $7,877,000 after buying an additional 39,321 shares during the period. First Citizens Bank & Trust Co. grew its stake in Prologis by 1,451.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after purchasing an additional 29,170 shares in the last quarter. Finally, Truist Financial Corp grew its stake in Prologis by 9.3% during the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock valued at $33,232,000 after purchasing an additional 25,229 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 3.3%

PLD traded down $3.66 during trading on Thursday, reaching $106.51. 6,612,309 shares of the stock traded hands, compared to its average volume of 4,211,954. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The stock's 50-day simple moving average is $107.47 and its two-hundred day simple moving average is $109.60. The stock has a market cap of $98.83 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.19 and a quick ratio of 0.41.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The business's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.79%. Prologis's dividend payout ratio is presently 101.00%.

Analysts Set New Price Targets

Several brokerages have recently commented on PLD. Truist Financial decreased their target price on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Mizuho cut their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Robert W. Baird cut 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. Scotiabank lifted their price target on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research report on Monday, May 12th. Finally, Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.47.

Prologis Company 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.