US Bancorp DE Increases Stock Holdings in Prologis, Inc. (NYSE:PLD)

US Bancorp DE raised its stake in Prologis, Inc. (NYSE:PLD) by 3.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 697,319 shares of the real estate investment trust’s stock after acquiring an additional 20,986 shares during the period. US Bancorp DE’s holdings in Prologis were worth $88,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PLD. Norden Group LLC lifted its holdings in shares of Prologis by 15.3% in the 1st quarter. Norden Group LLC now owns 5,008 shares of the real estate investment trust’s stock valued at $652,000 after buying an additional 664 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Prologis by 0.6% in the 1st quarter. Private Advisor Group LLC now owns 60,768 shares of the real estate investment trust’s stock valued at $7,913,000 after buying an additional 382 shares during the period. Mission Wealth Management LP lifted its holdings in shares of Prologis by 38.2% in the 1st quarter. Mission Wealth Management LP now owns 4,636 shares of the real estate investment trust’s stock valued at $604,000 after buying an additional 1,281 shares during the period. Prosperity Consulting Group LLC lifted its holdings in shares of Prologis by 18.2% in the 1st quarter. Prosperity Consulting Group LLC now owns 3,231 shares of the real estate investment trust’s stock valued at $421,000 after buying an additional 498 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Prologis by 7.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 269,162 shares of the real estate investment trust’s stock valued at $35,050,000 after buying an additional 19,345 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PLD shares. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Evercore ISI lifted their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Scotiabank cut their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Eight equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is owned by company insiders.

Prologis Price Performance

Shares of NYSE:PLD opened at $112.95 on Friday. The company has a market cap of $104.58 billion, a P/E ratio of 34.12, a P/E/G ratio of 3.05 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 52 week low of $98.82 and a 52 week high of $137.52. The business has a fifty day simple moving average of $124.32 and a 200-day simple moving average of $117.33.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the firm posted $1.30 EPS. Prologis’s revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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.