State Street Corp Sells 747,354 Shares of Prologis, Inc. $PLD

Key Points

• State Street Corp reduced its Prologis stake by 1.3% in the fourth quarter, selling 747,354 shares and still holding 57.3 million shares valued at about $7.3 billion.
• Wall Street sentiment remains positive, with several brokerages raising price targets; analysts currently rate Prologis as a Moderate Buy with an average target price of $151.86.
• Prologis reported solid quarterly results, beating EPS and revenue estimates, and it also announced a quarterly dividend of $1.07 per share, yielding about 2.9%.

State Street Corp trimmed its position in Prologis, Inc. (NYSE:PLD - Free Report) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 57,335,668 shares of the real estate investment trust's stock after selling 747,354 shares during the period. State Street Corp owned about 6.17% of Prologis worth $7,319,471,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PLD. High Note Wealth LLC increased its position in Prologis by 43.9% during the fourth quarter. High Note Wealth LLC now owns 249 shares of the real estate investment trust's stock worth $32,000 after buying an additional 76 shares during the last quarter. Dakota Community Bank & Trust NA increased its position in Prologis by 3.4% during the fourth quarter. Dakota Community Bank & Trust NA now owns 2,398 shares of the real estate investment trust's stock worth $306,000 after buying an additional 79 shares during the last quarter. Dearborn Partners LLC increased its position in Prologis by 4.2% during the fourth quarter. Dearborn Partners LLC now owns 1,969 shares of the real estate investment trust's stock worth $251,000 after buying an additional 79 shares during the last quarter. Peddock Capital Advisors LLC increased its position in Prologis by 3.1% during the fourth quarter. Peddock Capital Advisors LLC now owns 2,651 shares of the real estate investment trust's stock worth $338,000 after buying an additional 80 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC increased its position in Prologis by 1.0% during the third quarter. Foster Dykema Cabot & Partners LLC now owns 8,232 shares of the real estate investment trust's stock worth $943,000 after buying an additional 83 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PLD. Argus boosted their price target on Prologis from $135.00 to $152.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. JPMorgan Chase & Co. upped their target price on Prologis from $141.00 to $157.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. Wells Fargo & Company boosted their price target on Prologis from $155.00 to $167.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Morgan Stanley boosted their price target on Prologis from $135.00 to $151.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 26th. Finally, BMO Capital Markets upgraded Prologis from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $137.00 to $162.00 in a research note on Thursday, May 7th. Sixteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $151.86.

Prologis Stock Up 0.9%

NYSE PLD opened at $148.49 on Friday. The business has a fifty day moving average price of $141.99 and a two-hundred day moving average price of $135.51. The stock has a market capitalization of $138.44 billion, a PE ratio of 37.40, a PEG ratio of 3.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.51. Prologis, Inc. has a fifty-two week low of $103.41 and a fifty-two week high of $149.70.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.24. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.12 billion. Prologis had a net margin of 41.54% and a return on equity of 6.47%. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. Prologis has set its FY 2026 guidance at 6.070-6.230 EPS. Equities analysts expect that Prologis, Inc. will post 6.18 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $1.07 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $4.28 annualized dividend and a yield of 2.9%. Prologis's dividend payout ratio (DPR) is presently 107.81%.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.

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