Prologis, Inc. (NYSE:PLD) Stock Holdings Boosted by CCM Investment Advisers LLC

CCM Investment Advisers LLC lifted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 17.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,387 shares of the real estate investment trust's stock after buying an additional 11,026 shares during the period. CCM Investment Advisers LLC's holdings in Prologis were worth $8,204,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of analyst reports. Evercore ISI reduced their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Scotiabank increased their price target on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Royal Bank of Canada reduced their price target on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Morgan Stanley reduced their price target on Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, Wells Fargo & Company reduced their price target on Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Prologis has an average rating of "Moderate Buy" and an average price target of $120.42.

Prologis Stock Performance

Shares of Prologis stock traded down $1.26 on Friday, reaching $107.18. 3,359,339 shares of the company were exchanged, compared to its average volume of 4,122,771. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company's 50-day moving average is $104.61 and its two-hundred day moving average is $110.11. The firm has a market cap of $99.45 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion for 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%. As a group, research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is 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.