Raiffeisen Bank International AG Acquires 4,294 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Raiffeisen Bank International AG increased its holdings in Prologis, Inc. by 116.7%, now owning a total of 7,973 shares valued at approximately $882,000.
• Prologis reported a quarterly EPS of $1.46, exceeding estimates, with revenues matching forecasts at $2.03 billion, reflecting an 8.8% year-over-year growth.
• The company recently declared a quarterly dividend of $1.01 per share, giving it an annualized yield of 3.8% despite a payout ratio of 109.49%.

Raiffeisen Bank International AG boosted its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 116.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,973 shares of the real estate investment trust's stock after acquiring an additional 4,294 shares during the period. Raiffeisen Bank International AG's holdings in Prologis were worth $882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Alley Investment Management Company LLC grew its position in shares of Prologis by 102.8% in the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock valued at $12,111,000 after acquiring an additional 54,914 shares during the period. First Citizens Bank & Trust Co. raised its stake in Prologis by 1,451.2% in the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after buying an additional 29,170 shares during the period. Truist Financial Corp raised its stake in Prologis by 9.3% in the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock valued at $33,232,000 after buying an additional 25,229 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Prologis by 2.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock valued at $33,249,000 after buying an additional 6,350 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its stake in Prologis by 3.1% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock valued at $615,000 after buying an additional 167 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

Shares of Prologis stock opened at $105.15 on Tuesday. The stock has a market cap of $97.58 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 2.63 and a beta of 1.21. The firm's 50-day moving average is $107.59 and its 200 day moving average is $109.78. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company's revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. Sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's payout ratio is currently 109.49%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLD. Morgan Stanley dropped their price objective on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Robert W. Baird decreased their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Scotiabank raised their price target on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. Finally, Barclays decreased their price target 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 analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $120.74.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.