TD Asset Management Inc Has $39.17 Million Stake in Prologis, Inc. (NYSE:PLD)

Key Points

• TD Asset Management Inc increased its holdings in Prologis, Inc. by 1.1% during the first quarter, owning 350,424 shares valued at approximately $39.17 million.
• The stock price of Prologis recently traded up by 2.5% to $109.76, and the company has a market capitalization of approximately $101.85 billion.
• Prologis announced a quarterly dividend of $1.01, resulting in an annualized dividend yield of 3.68%, although its current dividend payout ratio stands at 109.49%.

TD Asset Management Inc grew its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 350,424 shares of the real estate investment trust's stock after purchasing an additional 3,869 shares during the quarter. TD Asset Management Inc's holdings in Prologis were worth $39,174,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PLD. REAP Financial Group LLC boosted its holdings 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 valued at $31,000 after buying an additional 84 shares in the last quarter. Phoenix Financial Ltd. raised its position in Prologis by 1.0% during the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock worth $955,000 after buying an additional 86 shares during the last quarter. CreativeOne Wealth LLC raised its position in Prologis by 1.7% during the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock worth $642,000 after buying an additional 100 shares during the last quarter. Focus Financial Network Inc. increased its holdings in shares of Prologis by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock valued at $234,000 after purchasing an additional 104 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in Prologis by 9.2% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,346 shares of the real estate investment trust's stock valued at $142,000 after acquiring an additional 113 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Down 1.5%

Shares of NYSE PLD traded down $1.63 during trading hours on Friday, hitting $105.15. The stock had a trading volume of 2,114,008 shares, compared to its average volume of 4,594,811. The company has a market capitalization of $97.57 billion, a P/E ratio of 28.47, a P/E/G ratio of 2.72 and a beta of 1.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19. The firm's 50-day moving average price is $107.55 and its two-hundred day moving average price is $109.83. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

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

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio is presently 109.49%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PLD shares. Robert W. Baird decreased their price target on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Citigroup decreased their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Mizuho reduced their price target on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Evercore ISI cut their price objective on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. 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 given 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 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.