Great Lakes Retirement Inc. Acquires 355 Shares of Prologis, Inc. (NYSE:PLD)

Great Lakes Retirement Inc. raised its holdings in Prologis, Inc. (NYSE:PLD) by 7.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 (SEC).

Other large investors have also recently made changes to their positions in the company. WASHINGTON TRUST Co raised its position in Prologis by 1,031.6% in the fourth quarter. WASHINGTON TRUST Co now owns 645 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 588 shares during the period. Altfest L J & Co. Inc. bought a new position in Prologis during the fourth quarter valued at $490,000. Procyon Advisors LLC bought a new position in Prologis during the fourth quarter valued at $350,000. Planned Solutions Inc. purchased a new stake in Prologis in the fourth quarter worth $123,000. Finally, IFG Advisory LLC bought a new stake in shares of Prologis in the fourth quarter valued at $379,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD stock traded up $1.51 during trading on Thursday, reaching $130.37. The company’s stock had a trading volume of 1,750,985 shares, compared to its average volume of 3,098,724. The company has a market capitalization of $120.60 billion, a P/E ratio of 39.46, a price-to-earnings-growth ratio of 2.50 and a beta of 1.00. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average is $130.52 and its 200-day moving average is $121.64. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, research analysts expect that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLD. Robert W. Baird upped their price objective on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Royal Bank of Canada upped their price target on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Scotiabank lifted their price target on shares of Prologis from $134.00 to $143.00 and gave the company a “sector outperform” rating in a report on Friday, December 15th. Mizuho increased their price objective on Prologis from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $136.00 target price on shares of Prologis in a research note on Monday, March 18th. Four equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.67.

Prologis Company Profile

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.