Flputnam Investment Management Co. Buys 16,540 Shares of Prologis, Inc. (NYSE:PLD)

Flputnam Investment Management Co. lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 73.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,972 shares of the real estate investment trust's stock after acquiring an additional 16,540 shares during the quarter. Flputnam Investment Management Co.'s holdings in Prologis were worth $5,195,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Capital Analysts LLC raised its position in Prologis by 10.0% in the 4th quarter. Capital Analysts LLC now owns 24,248 shares of the real estate investment trust's stock worth $3,232,000 after purchasing an additional 2,204 shares during the last quarter. Private Client Services LLC bought a new position in Prologis in the 4th quarter worth approximately $717,000. Bourgeon Capital Management LLC raised its position in Prologis by 28.5% in the 4th quarter. Bourgeon Capital Management LLC now owns 51,571 shares of the real estate investment trust's stock worth $6,874,000 after purchasing an additional 11,433 shares during the last quarter. Syntax Research Inc. raised its position in Prologis by 0.6% in the 4th quarter. Syntax Research Inc. now owns 19,961 shares of the real estate investment trust's stock worth $2,661,000 after purchasing an additional 117 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC raised its position in shares of Prologis by 126.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 22,164 shares of the real estate investment trust's stock valued at $2,954,000 after acquiring an additional 12,380 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Stock Down 0.9 %

NYSE PLD traded down $1.06 on Tuesday, reaching $114.73. The company had a trading volume of 5,665,844 shares, compared to its average volume of 3,249,410. The firm has a market capitalization of $106.13 billion, a price-to-earnings ratio of 34.87, 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 1-year low of $96.64 and a 1-year high of $137.52. The company's fifty day moving average is $129.44 and its 200-day moving average is $122.30.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. Prologis's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. On average, research analysts forecast that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis's previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.35%. Prologis's dividend payout ratio is presently 116.72%.

Analysts Set New Price Targets

Several brokerages have commented on PLD. Raymond James upped their target price on shares of Prologis from $130.00 to $145.00 and gave the company a "strong-buy" rating in a research report on Wednesday, January 24th. Mizuho reiterated a "neutral" rating and set a $130.00 target price on shares of Prologis in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. upgraded shares of Prologis from a "neutral" rating to an "overweight" rating and upped their target price for the company from $123.00 to $148.00 in a research report on Monday, December 18th. 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. Finally, TheStreet upgraded shares of Prologis from a "c+" rating to a "b-" rating in a research report on Friday, January 26th. Four investment 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, Prologis has an average rating of "Moderate Buy" and a consensus price target of $141.67.

About Prologis

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.