HTLF Bank Takes Position in Prologis, Inc. (NYSE:PLD)

HTLF Bank bought a new position in Prologis, Inc. (NYSE:PLD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 20,824 shares of the real estate investment trust's stock, valued at approximately $2,776,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Colton Groome Financial Advisors LLC grew its holdings in shares of Prologis by 23.2% in the fourth quarter. Colton Groome Financial Advisors LLC now owns 10,910 shares of the real estate investment trust's stock worth $1,454,000 after purchasing an additional 2,055 shares during the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of Prologis by 38.3% in the fourth quarter. Fidelis Capital Partners LLC now owns 8,290 shares of the real estate investment trust's stock worth $1,105,000 after purchasing an additional 2,297 shares during the last quarter. Western Wealth Management LLC boosted its holdings in Prologis by 5.9% in the fourth quarter. Western Wealth Management LLC now owns 14,478 shares of the real estate investment trust's stock valued at $1,930,000 after acquiring an additional 803 shares in the last quarter. Xponance Inc. boosted its holdings in Prologis by 6.4% in the fourth quarter. Xponance Inc. now owns 136,289 shares of the real estate investment trust's stock valued at $18,167,000 after acquiring an additional 8,138 shares in the last quarter. Finally, Cambridge Trust Co. boosted its holdings in Prologis by 1.0% in the fourth quarter. Cambridge Trust Co. now owns 211,074 shares of the real estate investment trust's stock valued at $28,136,000 after acquiring an additional 2,060 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Stock Down 1.1 %

Shares of PLD traded down $1.20 during trading hours on Friday, hitting $103.49. The company had a trading volume of 6,798,802 shares, compared to its average volume of 3,440,742. The firm has a fifty day moving average price of $127.87 and a 200-day moving average price of $122.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. The stock has a market capitalization of $95.73 billion, a price-to-earnings ratio of 30.26, a P/E/G ratio of 2.14 and a beta of 1.00. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.85 billion. Prologis had a return on equity of 5.49% and a net margin of 38.73%. Prologis's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 EPS. On average, equities research analysts forecast that Prologis, Inc. will post 5.47 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a $0.96 dividend. This is a positive change from Prologis's previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.71%. Prologis's payout ratio is 112.28%.

Wall Street Analyst Weigh In

PLD has been the topic of several recent analyst reports. TheStreet upgraded shares of Prologis from a "c+" rating to a "b-" rating in a report on Friday, January 26th. Evercore ISI cut their price target on shares of Prologis from $136.00 to $123.00 and set an "in-line" rating on the stock in a report on Thursday. Royal Bank of Canada lifted their price target on shares of Prologis from $128.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, February 16th. UBS Group cut their price target on shares of Prologis from $151.00 to $138.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Raymond James lifted their price target on shares of Prologis from $130.00 to $145.00 and gave the company a "strong-buy" rating in a report on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $140.00.

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.