Prologis, Inc. (NYSE:PLD) Shares Acquired by Verity & Verity LLC

Verity & Verity LLC raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 20.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,429 shares of the real estate investment trust's stock after purchasing an additional 19,230 shares during the period. Verity & Verity LLC's holdings in Prologis were worth $12,792,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis during the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis during the 4th quarter worth approximately $30,000. REAP Financial Group LLC lifted its position in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after buying an additional 84 shares during the last quarter. Finally, Promus Capital LLC purchased a new stake in shares of Prologis during the 4th quarter worth approximately $34,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

PLD traded down $1.26 during trading on Friday, hitting $107.18. The stock had a trading volume of 3,359,339 shares, compared to its average volume of 4,120,967. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm has a market capitalization of $99.45 billion, a P/E ratio of 26.79, a PEG ratio of 2.70 and a beta of 1.25. The company's 50-day moving average price is $104.26 and its 200 day moving average price is $110.23. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. On average, equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.77%. Prologis's dividend payout ratio is currently 101.00%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLD shares. Royal Bank of Canada reduced their price objective on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Robert W. Baird reduced their price objective on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. CJS Securities reduced their price objective on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Finally, BMO Capital Markets cut their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.42.

Prologis Company Profile

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.