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US Bancorp DE Lowers Stock Holdings in Prologis, Inc. (NYSE:PLD)

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Key Points

  • US Bancorp DE has reduced its stake in Prologis, Inc. by 0.9% in Q1 2024, holding 650,137 shares worth approximately $72.68 million.
  • Prologis reported an earnings per share (EPS) of $1.46 for the recent quarter, exceeding analysts' expectations, with revenue of $2.03 billion.
  • Institutional investors currently own 93.50% of Prologis's shares, with several firms adjusting their price targets, including BMO Capital Markets lowering theirs from $105.00 to $95.00.
  • Interested in Prologis? Here are five stocks we like better.

US Bancorp DE decreased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 650,137 shares of the real estate investment trust's stock after selling 6,052 shares during the period. US Bancorp DE owned approximately 0.07% of Prologis worth $72,679,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its position in Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. Headlands Technologies LLC lifted its position in Prologis by 283.0% in the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the real estate investment trust's stock valued at $512,000 after purchasing an additional 3,580 shares during the period. OneAscent Financial Services LLC acquired a new stake in Prologis in the fourth quarter valued at about $477,000. World Investment Advisors lifted its position in Prologis by 41.9% in the fourth quarter. World Investment Advisors now owns 11,115 shares of the real estate investment trust's stock valued at $1,175,000 after purchasing an additional 3,284 shares during the period. Finally, Arete Wealth Advisors LLC lifted its position in Prologis by 10.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 6,401 shares of the real estate investment trust's stock valued at $676,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Mizuho reduced their price objective on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Citigroup reduced their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. CJS Securities reduced their price target on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Finally, UBS Group lifted their price target on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Prologis has a consensus rating of "Moderate Buy" and a consensus target price of $120.74.

Get Our Latest Stock Analysis on PLD

Prologis Price Performance

Shares of 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 quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a 50-day simple moving average of $107.57 and a two-hundred day simple moving average of $109.81. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a market cap of $97.37 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.63 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. Prologis's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.34 EPS. On average, sell-side 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 paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's payout ratio is presently 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.

See Also

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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