Gilman Hill Asset Management LLC Grows Position in Prologis, Inc. (NYSE:PLD)

Gilman Hill Asset Management LLC grew its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 65.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 7,669 shares of the real estate investment trust's stock after acquiring an additional 3,044 shares during the period. Gilman Hill Asset Management LLC's holdings in Prologis were worth $857,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PLD. Cohen & Steers Inc. raised its holdings in 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 purchasing an additional 882,529 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 worth $2,252,853,000 after buying an additional 610,251 shares during the period. FMR LLC increased its stake in shares of Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after acquiring an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Prologis by 2.1% during 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 period. Finally, Northern Trust Corp boosted its stake 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 worth $1,464,509,000 after acquiring an additional 4,893,284 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

NYSE:PLD traded up $1.09 during trading hours on Friday, reaching $108.91. The company had a trading volume of 3,644,410 shares, compared to its average volume of 4,149,970. The firm has a market cap of $101.06 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 2.70 and a beta of 1.25. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm's 50 day moving average price is $103.73 and its 200-day moving average price is $110.46. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The company 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, analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.71%. Prologis's dividend payout ratio (DPR) is 101.00%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Mizuho reduced their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Evercore ISI lowered their price objective on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, April 17th. Wall Street Zen raised Prologis from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Wells Fargo & Company lowered their price target on Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, Prologis has an average rating of "Moderate Buy" and a consensus target price 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.