OLD Second National Bank of Aurora Acquires 118 Shares of Prologis, Inc. (NYSE:PLD)

OLD Second National Bank of Aurora boosted its position in Prologis, Inc. (NYSE:PLD) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,973 shares of the real estate investment trust’s stock after buying an additional 118 shares during the period. OLD Second National Bank of Aurora’s holdings in Prologis were worth $1,329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PLD. RB Capital Management LLC lifted its holdings in Prologis by 14.7% in the first quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 385 shares during the period. Blair William & Co. IL lifted its holdings in Prologis by 5.3% in the first quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock valued at $3,490,000 after buying an additional 1,092 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Prologis by 87.7% in the first quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock valued at $546,000 after buying an additional 1,580 shares during the period. Baird Financial Group Inc. lifted its holdings in Prologis by 41.8% in the first quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock valued at $38,952,000 after buying an additional 71,112 shares during the period. Finally, Zions Bancorporation N.A. raised its holdings in shares of Prologis by 38.8% during the first quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock valued at $336,000 after purchasing an additional 581 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of several research reports. Raymond James upped their price objective on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Mizuho reiterated a “neutral” rating and set a $130.00 price objective on shares of Prologis in a report on Tuesday, April 2nd. Morgan Stanley upped their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Royal Bank of Canada upped their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Robert W. Baird boosted 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. Four analysts have rated the stock with a hold rating, ten 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 an average target price of $141.27.

Prologis Stock Performance

Shares of Prologis stock traded down $1.01 on Thursday, reaching $105.48. 2,045,675 shares of the company traded hands, compared to its average volume of 3,335,180. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a 50 day moving average of $128.99 and a 200 day moving average of $122.19. The firm has a market capitalization of $97.57 billion, a PE ratio of 32.37, a PEG ratio of 2.29 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30.

Prologis (NYSE:PLD) last announced its quarterly earnings results 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 business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. Equities analysts forecast that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio is presently 116.72%.

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.