Prologis, Inc. (NYSE:PLD) Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. raised its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 868,877 shares of the real estate investment trust's stock after buying an additional 10,239 shares during the quarter. Bessemer Group Inc. owned about 0.09% of Prologis worth $97,130,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis during the fourth quarter worth $26,000. Crowley Wealth Management Inc. purchased a new position in shares of Prologis in the 4th quarter worth $27,000. REAP Financial Group LLC raised its position in shares of Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after buying an additional 84 shares during the period. Whipplewood Advisors LLC purchased a new position in shares of Prologis in the 4th quarter worth $34,000. Finally, Promus Capital LLC purchased a new position in shares of Prologis in the 4th quarter worth $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PLD. Scotiabank increased their target price on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. BMO Capital Markets cut their target price on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Mizuho cut their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Barclays cut their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $120.42.

Prologis Stock Up 1.1%

Shares of NYSE PLD traded up $1.19 during midday trading on Friday, reaching $105.58. 5,732,894 shares of the company's stock were exchanged, compared to its average volume of 4,129,814. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The stock has a market capitalization of $97.97 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41. The business's fifty day moving average price is $106.21 and its two-hundred day moving average price is $109.47.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.99 billion during 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%. Analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.83%. Prologis's dividend payout ratio (DPR) is 101.00%.

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.