Thurston Springer Miller Herd & Titak Inc. Boosts Stake in Prologis, Inc. (NYSE:PLD)

Thurston Springer Miller Herd & Titak Inc. increased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 26.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,228 shares of the real estate investment trust's stock after buying an additional 3,433 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Prologis were worth $1,814,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PLD. Aviva PLC raised its position in shares of Prologis by 36.6% in the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock worth $73,481,000 after acquiring an additional 186,187 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock worth $82,907,000 after purchasing an additional 179,880 shares in the last quarter. Allstate Corp lifted its position in Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after buying an additional 39,321 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Prologis by 2.1% during the 4th 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 buying an additional 334,907 shares in the last quarter. Finally, Banco Santander S.A. boosted its holdings in shares of Prologis by 88.0% during the 4th quarter. Banco Santander S.A. now owns 4,683 shares of the real estate investment trust's stock valued at $495,000 after buying an additional 2,192 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of PLD traded up $1.09 during mid-day trading on Friday, hitting $108.91. 3,644,410 shares of the company traded hands, compared to its average volume of 4,149,970. The stock has a market cap of $101.06 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 2.70 and a beta of 1.25. The stock has a 50-day moving average price of $103.73 and a two-hundred day moving average price of $110.46. 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 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis (NYSE:PLD - Get Free Report) last announced its 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. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

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 is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.71%. Prologis's dividend payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PLD shares. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Barclays dropped 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. Morgan Stanley reduced their price objective on Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company dropped their target price on Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Finally, Robert W. Baird cut their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Prologis presently has an average rating of "Moderate Buy" and a consensus price target of $120.42.

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.