UMB Bank n.a. lifted its stake in shares of Prologis, Inc. (NYSE:PLD – Get Rating) by 2,888.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,095 shares of the real estate investment trust’s stock after acquiring an additional 31,021 shares during the period. UMB Bank n.a.’s holdings in Prologis were worth $3,618,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Peregrine Capital Management LLC bought a new position in Prologis in the fourth quarter valued at $1,205,000. Dakota Community Bank & Trust NA bought a new position in Prologis in the fourth quarter valued at $39,000. Coldstream Capital Management Inc. bought a new position in Prologis in the fourth quarter valued at $6,618,000. Gradient Investments LLC grew its position in Prologis by 29.2% in the fourth quarter. Gradient Investments LLC now owns 973 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 220 shares in the last quarter. Finally, Cambridge Trust Co. grew its position in Prologis by 3.2% in the fourth quarter. Cambridge Trust Co. now owns 212,650 shares of the real estate investment trust’s stock valued at $23,972,000 after purchasing an additional 6,526 shares in the last quarter. Institutional investors own 75.84% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on PLD shares. StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research report on Friday, March 10th. Citigroup increased their price target on shares of Prologis to $140.00 in a research note on Wednesday, December 14th. Wells Fargo & Company increased their price target on shares of Prologis to $141.00 in a research note on Wednesday, December 14th. Truist Financial increased their price target on shares of Prologis from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. Finally, BMO Capital Markets increased their price target on shares of Prologis from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.
Prologis Price Performance
Prologis (NYSE:PLD – Get Rating) last released its quarterly earnings results on Wednesday, January 18th. The real estate investment trust reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. Prologis had a net margin of 56.33% and a return on equity of 7.71%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the firm earned $1.12 earnings per share. Prologis’s revenue for the quarter was up 37.2% compared to the same quarter last year. As a group, sell-side analysts predict that Prologis, Inc. will post 5.52 earnings per share for the current year.
Prologis Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 3.00%. This is a positive change from Prologis’s previous quarterly dividend of $0.79. The ex-dividend date is Thursday, March 16th. Prologis’s dividend payout ratio (DPR) is currently 72.64%.
Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.
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