Rhumbline Advisers Buys 39,839 Shares of Prologis, Inc. (NYSE:PLD)

Rhumbline Advisers boosted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,849,876 shares of the real estate investment trust's stock after acquiring an additional 39,839 shares during the period. Rhumbline Advisers owned 0.20% of Prologis worth $206,798,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PLD. Norges Bank bought a new stake in Prologis in the fourth quarter valued at $951,263,000. Northern Trust Corp boosted its holdings in 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 in the last quarter. Capital Research Global Investors boosted its holdings in Prologis by 25.4% in the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after acquiring an additional 2,500,761 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Prologis in the fourth quarter valued at $254,876,000. Finally, FMR LLC boosted its holdings in 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 in the last quarter. Institutional investors own 93.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on PLD shares. 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 report on Thursday, April 17th. CJS Securities lowered their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Wall Street Zen raised Prologis from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. BMO Capital Markets lowered their price objective on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Mizuho lowered 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.42.

Prologis Stock Performance

Shares of Prologis stock traded up $0.20 during trading hours on Thursday, reaching $108.63. 789,010 shares of the stock traded hands, compared to its average volume of 4,139,676. The company has a 50 day moving average price of $103.81 and a 200 day moving average price of $110.50. The firm has a market capitalization of $100.80 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

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 (EPS) for the quarter, beating 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 6.44% and a net margin of 45.50%. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.72%. 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.