Truist Financial Corp Purchases 25,229 Shares of Prologis, Inc. (NYSE:PLD)

Truist Financial Corp lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 297,270 shares of the real estate investment trust's stock after purchasing an additional 25,229 shares during the quarter. Truist Financial Corp's holdings in Prologis were worth $33,232,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Murphy & Mullick Capital Management Corp bought a new position in Prologis in the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. bought a new position in Prologis in the 4th quarter valued at about $27,000. REAP Financial Group LLC grew its position in 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. Missouri Trust & Investment Co grew its position in Prologis by 59.6% in the 1st quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 149 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in Prologis in the 4th quarter valued at about $50,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PLD shares. Barclays decreased their target price on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. CJS Securities reduced their price objective on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Morgan Stanley reduced their price objective on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Scotiabank raised their price objective on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research report on Monday, May 12th. Finally, BMO Capital Markets reduced their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Prologis currently has an average rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Stock Down 1.6%

PLD traded down $1.71 during midday trading on Monday, hitting $106.31. 3,837,856 shares of the company's stock traded hands, compared to its average volume of 4,169,085. The company has a market cap of $98.65 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 2.74 and a beta of 1.23. The stock's fifty day simple moving average is $106.82 and its 200-day simple moving average is $109.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. As a group, equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's payout ratio is presently 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.