Principal Financial Group Inc. Trims Position in Prologis, Inc. (NYSE:PLD)

Principal Financial Group Inc. trimmed its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 0.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 11,779,016 shares of the real estate investment trust's stock after selling 94,093 shares during the period. Principal Financial Group Inc. owned 1.27% of Prologis worth $1,316,776,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis during the fourth quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis during the fourth quarter worth about $27,000. REAP Financial Group LLC increased its stake in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 84 shares during the period. Promus Capital LLC acquired a new position in shares of Prologis during the fourth quarter worth about $34,000. Finally, Missouri Trust & Investment Co increased its stake in shares of Prologis by 59.6% during the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 149 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Truist Financial dropped their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. BMO Capital Markets dropped their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley lowered their target price on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average price target of $120.42.

Prologis Price Performance

Shares of PLD stock traded down $0.28 during trading hours on Thursday, hitting $108.03. The company's stock had a trading volume of 1,549,648 shares, compared to its average volume of 4,162,745. The business has a fifty day moving average of $106.61 and a 200-day moving average of $109.40. The stock has a market cap of $100.24 billion, a price-to-earnings ratio of 27.01, a P/E/G ratio of 2.75 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 current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate 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%. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.74%. Prologis's dividend payout ratio is presently 101.00%.

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.