Prologis, Inc. (NYSE:PLD) Shares Bought by Royal Bank of Canada

Royal Bank of Canada grew its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,686,333 shares of the real estate investment trust's stock after purchasing an additional 150,200 shares during the quarter. Royal Bank of Canada owned approximately 0.51% of Prologis worth $495,347,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in Prologis during the fourth quarter worth approximately $26,000. Crowley Wealth Management Inc. purchased a new position in shares of Prologis during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis during the fourth quarter worth approximately $30,000. Promus Capital LLC purchased a new position in shares of Prologis during the fourth quarter worth approximately $34,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Prologis during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PLD shares. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. BMO Capital Markets lowered their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. BTIG Research lowered their target price on shares of Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Robert W. Baird lowered their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Truist Financial lowered their target price on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $121.84.

Prologis Price Performance

Shares of NYSE PLD opened at $110.56 on Friday. The firm has a market capitalization of $102.59 billion, a P/E ratio of 27.64, a PEG ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company's fifty day moving average is $104.90 and its two-hundred day moving average is $111.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis (NYSE:PLD - Get Free Report) last issued its 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. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.65%. Prologis's 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.

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