Zurcher Kantonalbank Zurich Cantonalbank Has $89.64 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Key Points

• Zurcher Kantonalbank increased its stake in Prologis, Inc. by 2.2% in Q1, owning approximately $89.64 million worth of shares.
• Institutional investors collectively own 93.50% of Prologis stocks, indicating strong institutional support for the company.
• Analysts have set a consensus price target of $120.74 for Prologis, with a mix of ratings from sell to strong buy.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 801,868 shares of the real estate investment trust's stock after purchasing an additional 17,508 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.09% of Prologis worth $89,641,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. REAP Financial Group LLC boosted its position in shares of Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 84 shares during the period. Phoenix Financial Ltd. lifted its stake in shares of Prologis by 1.0% in the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after buying an additional 86 shares during the period. CreativeOne Wealth LLC lifted its stake in shares of Prologis by 1.7% in the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock valued at $642,000 after buying an additional 100 shares during the period. Focus Financial Network Inc. lifted its stake in shares of Prologis by 5.2% in the first quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock valued at $234,000 after buying an additional 104 shares during the period. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Prologis by 9.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,346 shares of the real estate investment trust's stock valued at $142,000 after buying an additional 113 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

Shares of NYSE PLD traded up $0.09 during mid-day trading on Wednesday, hitting $109.81. 1,012,397 shares of the stock were exchanged, compared to its average volume of 4,596,728. The company has a market cap of $101.89 billion, a P/E ratio of 29.73, a PEG ratio of 2.69 and a beta of 1.23. The stock's fifty day simple moving average is $107.44 and its two-hundred day simple moving average is $109.82. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19. 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 issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 earnings per share. As a group, analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio is currently 109.49%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PLD shares. Mizuho reduced their target price on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Citigroup reduced their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. BMO Capital Markets reduced their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Barclays reduced their target price on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Finally, Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $120.74.

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.