Prologis, Inc. (NYSE:PLD) Shares Bought by Allworth Financial LP

Allworth Financial LP raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,091 shares of the real estate investment trust's stock after acquiring an additional 7,889 shares during the quarter. Allworth Financial LP's holdings in Prologis were worth $14,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cohen & Steers Inc. lifted its holdings in Prologis by 3.2% in the 4th 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 acquiring an additional 882,529 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Prologis by 2.9% in the 4th 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 acquiring an additional 610,251 shares during the last quarter. FMR LLC lifted its holdings in Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after acquiring an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Prologis by 2.1% in the 4th 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 acquiring an additional 334,907 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Prologis by 54.6% in the 4th 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 acquiring an additional 4,893,284 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on PLD. CJS Securities cut their price target on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Evercore ISI reduced their price objective 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. Mizuho reduced their price objective on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Robert W. Baird reduced their price objective on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, UBS Group upped their price objective on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of "Moderate Buy" and a consensus price target of $119.53.

Prologis Price Performance

Shares of PLD opened at $108.43 on Friday. The company has a market capitalization of $100.62 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 2.70 and a beta of 1.23. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. The business's 50-day moving average is $107.14 and its 200-day moving average is $109.49.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. Equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal 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. This represents a $4.04 annualized dividend and a yield of 3.73%. The ex-dividend date was Tuesday, June 17th. Prologis's payout ratio is presently 101.00%.

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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