2,615 Shares in Prologis, Inc. (NYSE:PLD) Purchased by Scissortail Wealth Management LLC

Scissortail Wealth Management LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,615 shares of the real estate investment trust’s stock, valued at approximately $334,000.

Other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its holdings in Prologis by 6.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after acquiring an additional 1,034,211 shares in the last quarter. FMR LLC raised its holdings in Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after acquiring an additional 197,693 shares in the last quarter. Morgan Stanley raised its holdings in Prologis by 48.0% in the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after acquiring an additional 4,729,040 shares in the last quarter. Northern Trust Corp raised its holdings in Prologis by 0.7% in the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after acquiring an additional 92,036 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Prologis by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after acquiring an additional 268,667 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PLD shares. Royal Bank of Canada upped their price objective on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Morgan Stanley upped their price objective on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Evercore ISI reiterated an “in-line” rating and issued a $136.00 price objective on shares of Prologis in a research note on Monday, March 18th. Barclays lowered their price objective on Prologis from $153.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Finally, Raymond James upped their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Four 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. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $141.67.

Prologis Trading Down 0.9 %

PLD stock traded down $1.05 during midday trading on Wednesday, hitting $114.74. 5,666,402 shares of the company’s stock were exchanged, compared to its average volume of 3,211,141. The stock’s fifty day moving average price is $129.44 and its 200-day moving average price is $122.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $106.14 billion, a PE ratio of 34.87, a price-to-earnings-growth ratio of 2.31 and a beta of 1.00. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52.

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

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is 116.72%.

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.