Greystone Financial Group LLC Purchases 5,152 Shares of Prologis, Inc. (NYSE:PLD)

Greystone Financial Group LLC grew its position in Prologis, Inc. (NYSE:PLD - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,991 shares of the real estate investment trust's stock after acquiring an additional 5,152 shares during the quarter. Greystone Financial Group LLC's holdings in Prologis were worth $9,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cohen & Steers Inc. raised its stake 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 valued at $2,994,557,000 after acquiring an additional 882,529 shares during the period. Geode Capital Management LLC raised its stake 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 valued at $2,252,853,000 after acquiring an additional 610,251 shares during the period. FMR LLC raised its stake 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 valued at $1,889,747,000 after acquiring an additional 1,875,978 shares during the period. Massachusetts Financial Services Co. MA raised its stake 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 valued at $1,754,282,000 after acquiring an additional 334,907 shares during the period. Finally, Northern Trust Corp raised its stake 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 valued at $1,464,509,000 after acquiring 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

Several brokerages have recently weighed in on PLD. CJS Securities reduced their target price on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Wells Fargo & Company reduced their price target on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Barclays reduced their price target on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley reduced their price target on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, Scotiabank raised their price target on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research note on Monday, May 12th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.42.

Prologis Stock Down 0.1%

Prologis stock traded down $0.14 during midday trading on Thursday, hitting $108.36. 3,526,756 shares of the company's stock were exchanged, compared to its average volume of 4,122,133. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The firm has a 50-day moving average of $103.98 and a two-hundred day moving average of $110.29. The company has a market cap of $100.55 billion, a PE ratio of 27.09, a P/E/G ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. As a group, analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 3.73%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio is currently 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.