First Hawaiian Bank Has $582,000 Position in Prologis, Inc. (NYSE:PLD)

First Hawaiian Bank cut its position in Prologis, Inc. (NYSE:PLD) by 7.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,186 shares of the real estate investment trust’s stock after selling 413 shares during the period. First Hawaiian Bank’s holdings in Prologis were worth $582,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Optimum Investment Advisors acquired a new position in Prologis during the 1st quarter valued at about $26,000. True Wealth Design LLC acquired a new position in Prologis during the 4th quarter valued at about $27,000. JFS Wealth Advisors LLC lifted its position in shares of Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 168 shares in the last quarter. Clear Investment Research LLC lifted its position in shares of Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 158 shares in the last quarter. Finally, Private Wealth Management Group LLC bought a new position in shares of Prologis during the 4th quarter worth approximately $38,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLD. The Goldman Sachs Group lifted their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Robert W. Baird dropped their target price on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Truist Financial lifted their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday. Argus lifted their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $132.27.

Prologis Price Performance

Shares of PLD traded down $5.04 during mid-day trading on Monday, reaching $118.94. 5,132,117 shares of the stock traded hands, compared to its average volume of 3,765,131. The firm has a fifty day moving average price of $115.08 and a 200 day moving average price of $119.66. The company has a market cap of $110.12 billion, a price-to-earnings ratio of 35.35, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 earnings per share. As a group, equities research analysts predict that Prologis, Inc. will post 5.43 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a $0.96 dividend. The ex-dividend date was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.23%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

About Prologis

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.