Prologis, Inc. (NYSE:PLD) Shares Purchased by Bourgeon Capital Management LLC

Bourgeon Capital Management LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 28.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,571 shares of the real estate investment trust's stock after purchasing an additional 11,433 shares during the quarter. Prologis makes up about 1.5% of Bourgeon Capital Management LLC's holdings, making the stock its 29th biggest position. Bourgeon Capital Management LLC's holdings in Prologis were worth $6,874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. RB Capital Management LLC boosted its holdings in Prologis by 14.7% in the 1st quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust's stock valued at $485,000 after purchasing an additional 385 shares during the period. Blair William & Co. IL boosted its holdings in Prologis by 5.3% in the 1st quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust's stock valued at $3,490,000 after purchasing an additional 1,092 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Prologis by 87.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust's stock valued at $546,000 after purchasing an additional 1,580 shares during the period. Baird Financial Group Inc. boosted its holdings in Prologis by 41.8% in the 1st quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust's stock valued at $38,952,000 after purchasing an additional 71,112 shares during the period. Finally, Zions Bancorporation N.A. boosted its holdings in Prologis by 38.8% in the 1st quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust's stock valued at $336,000 after purchasing an additional 581 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Down 2.7 %

Shares of NYSE PLD traded down $3.22 during midday trading on Monday, reaching $115.78. The stock had a trading volume of 3,993,744 shares, compared to its average volume of 3,214,788. The company's 50 day moving average price is $129.98 and its 200 day moving average price is $122.26. The firm has a market cap of $107.10 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 2.38 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm posted $1.24 EPS. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. This is an increase from Prologis's previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, March 15th. Prologis's payout ratio is 116.72%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PLD shares. JPMorgan Chase & Co. raised shares of Prologis from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $123.00 to $148.00 in a report on Monday, December 18th. Robert W. Baird increased their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 23rd. Barclays dropped their target price on shares of Prologis from $153.00 to $141.00 and set an "overweight" rating for the company in a research report on Wednesday, March 27th. Morgan Stanley raised their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an "overweight" rating in a research report on Wednesday, January 24th. Finally, Mizuho restated a "neutral" rating and issued a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $141.67.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.