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UNIVEST FINANCIAL Corp Has $1.37 Million Position in Prologis, Inc. (NYSE:PLD)

Prologis logo with Finance background

Key Points

  • UNIVEST FINANCIAL Corp increased its stake in Prologis, Inc. by 28.4% during the first quarter, holding a total of 12,289 shares valued at approximately $1.37 million.
  • Prologis reported a quarterly EPS of $1.46, exceeding analysts' expectations of $1.41, and its revenue rose 8.8% year-over-year to $2.03 billion.
  • The company declared a quarterly dividend of $1.01, translating to an annualized dividend of $4.04 and a yield of 3.9%, despite a payout ratio of 109.49%.
  • Five stocks we like better than Prologis.

UNIVEST FINANCIAL Corp boosted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 28.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,289 shares of the real estate investment trust's stock after purchasing an additional 2,716 shares during the quarter. UNIVEST FINANCIAL Corp's holdings in Prologis were worth $1,374,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. Northern Trust Corp increased its holdings in Prologis by 54.6% in the 4th 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 buying an additional 4,893,284 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of Prologis by 282.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock worth $433,229,000 after acquiring an additional 2,862,183 shares in the last quarter. Capital Research Global Investors increased its stake 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 during the last quarter. FMR LLC raised its position in Prologis by 11.7% during 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 purchasing an additional 1,875,978 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Prologis by 83.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock valued at $399,528,000 after purchasing an additional 1,723,129 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLD. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Barclays decreased their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Citigroup dropped their target price 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. Finally, Mizuho decreased their price target on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $120.74.

Check Out Our Latest Stock Analysis on PLD

Prologis Trading Down 1.7%

Shares of NYSE:PLD traded down $1.86 during mid-day trading on Friday, reaching $104.92. 6,122,816 shares of the company's stock were exchanged, compared to its average volume of 4,686,173. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The firm has a market capitalization of $97.37 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.63 and a beta of 1.21. The business's fifty day moving average price is $107.57 and its 200-day moving average price is $109.81.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio is currently 109.49%.

Prologis Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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