NorthRock Partners LLC Grows Stock Position in Prologis, Inc. (NYSE:PLD)

NorthRock Partners LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 56.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,929 shares of the real estate investment trust's stock after purchasing an additional 2,497 shares during the period. NorthRock Partners LLC's holdings in Prologis were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PLD. Empirical Asset Management LLC raised its holdings in shares of Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock valued at $7,249,000 after acquiring an additional 52,963 shares during the last quarter. Aviva PLC raised its holdings in shares of Prologis by 36.6% during the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock valued at $73,481,000 after acquiring an additional 186,187 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after acquiring an additional 179,880 shares during the last quarter. Allstate Corp raised its holdings in shares of Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after acquiring an additional 39,321 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Prologis by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after acquiring an additional 334,907 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. BNP Paribas raised Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Evercore ISI reduced their target price on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Raymond James reissued a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Morgan Stanley dropped their price target on Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Truist Financial cut their price target on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Prologis has a consensus rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Trading Up 0.0%

PLD stock traded up $0.01 during midday trading on Monday, hitting $110.56. 2,879,701 shares of the company's stock were exchanged, compared to its average volume of 4,195,050. The business has a 50-day simple moving average of $104.90 and a two-hundred day simple moving average of $111.08. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $102.59 billion, a PE ratio of 27.64, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. 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 declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.65%. Prologis's dividend payout ratio is currently 101.00%.

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.