Prologis, Inc. (NYSE:PLD) Stock Position Increased by Northern Trust Corp

Northern Trust Corp raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 54.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,855,339 shares of the real estate investment trust's stock after purchasing an additional 4,893,284 shares during the period. Northern Trust Corp owned 1.50% of Prologis worth $1,464,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis during the 4th quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis during the fourth quarter valued at approximately $30,000. Promus Capital LLC acquired a new stake in Prologis during the fourth quarter worth approximately $34,000. Finally, Whipplewood Advisors LLC purchased a new stake in Prologis in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PLD has been the subject of several analyst reports. BTIG Research dropped their target price on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Baird R W upgraded shares of Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Evercore ISI cut their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. CJS Securities dropped their price objective on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Finally, Mizuho reduced their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. One equities 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 issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $122.05.

Prologis Stock Performance

Shares of PLD stock traded up $0.95 on Thursday, hitting $103.15. 3,955,563 shares of the stock traded hands, compared to its average volume of 4,145,301. The company's fifty day moving average is $108.38 and its 200 day moving average is $112.22. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a market capitalization of $95.62 billion, a PE ratio of 25.79, a PEG ratio of 2.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

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 for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, equities research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.92%. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is currently 101.00%.

Prologis 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.