Great Lakes Retirement Inc. Boosts Stake in Prologis, Inc. (NYSE:PLD)

Great Lakes Retirement Inc. lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,216 shares of the real estate investment trust’s stock after purchasing an additional 355 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Prologis were worth $695,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CreativeOne Wealth LLC raised its holdings in Prologis by 1.5% during the second quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust’s stock worth $680,000 after purchasing an additional 82 shares in the last quarter. SevenOneSeven Capital Management boosted its stake in shares of Prologis by 2.3% in the fourth quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust’s stock valued at $427,000 after buying an additional 86 shares in the last quarter. Family Legacy Inc. grew its holdings in Prologis by 0.5% during the fourth quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after acquiring an additional 87 shares during the period. Hixon Zuercher LLC lifted its holdings in Prologis by 0.6% in the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock valued at $1,950,000 after acquiring an additional 88 shares during the period. Finally, Harbour Investments Inc. grew its stake in shares of Prologis by 2.9% during the 1st quarter. Harbour Investments Inc. now owns 3,111 shares of the real estate investment trust’s stock worth $388,000 after purchasing an additional 89 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Up 1.2 %

NYSE:PLD traded up $1.51 during trading hours on Thursday, hitting $130.37. The stock had a trading volume of 1,750,985 shares, compared to its average volume of 3,098,724. The company has a market cap of $120.60 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 2.50 and a beta of 1.00. The business has a 50 day simple moving average of $130.52 and a two-hundred day simple moving average of $121.64. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 EPS. Analysts predict that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 2.95%. Prologis’s dividend payout ratio is currently 116.72%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PLD. Robert W. Baird upped their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada boosted their price objective on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Mizuho lifted their target price on shares of Prologis from $125.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, Raymond James lifted their price objective on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.67.

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.