Park Avenue Securities LLC Purchases 28,817 Shares of Prologis, Inc. (NYSE:PLD)

Park Avenue Securities LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 46.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 91,504 shares of the real estate investment trust’s stock after buying an additional 28,817 shares during the period. Park Avenue Securities LLC’s holdings in Prologis were worth $10,229,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cohen & Steers Inc. boosted its holdings in Prologis by 3.2% in the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock worth $2,994,557,000 after acquiring an additional 882,529 shares in the last quarter. Geode Capital Management LLC increased its position in Prologis by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock worth $2,252,853,000 after buying an additional 610,251 shares during the last quarter. FMR LLC increased its position in Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after buying an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock valued at $1,754,282,000 after purchasing an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PLD. Evercore ISI cut their price objective on Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. CJS Securities lowered their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. BMO Capital Markets reduced their price objective on Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada cut their price objective on Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 29th. Finally, Scotiabank raised their price objective on Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have assigned 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 target price of $120.42.

Prologis Stock Up 1.0%

Prologis stock opened at $108.91 on Friday. The firm has a fifty day moving average price of $103.68 and a two-hundred day moving average price of $110.38. The firm has a market cap of $101.06 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. As a group, analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.71%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

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.