Migdal Insurance & Financial Holdings Ltd. Purchases Shares of 308,000 Prologis, Inc. (NYSE:PLD)

Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 308,000 shares of the real estate investment trust’s stock, valued at approximately $41,056,000.

Other institutional investors have also made changes to their positions in the company. Columbia Trust Co 01012016 boosted its stake in shares of Prologis by 16.0% in the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after purchasing an additional 723 shares during the period. Cyndeo Wealth Partners LLC boosted its stake in shares of Prologis by 39.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares during the period. DNB Asset Management AS boosted its stake in shares of Prologis by 17.1% in the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after purchasing an additional 42,073 shares during the period. Grassi Investment Management boosted its stake in shares of Prologis by 31.8% in the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after purchasing an additional 60,900 shares during the period. Finally, Selway Asset Management purchased a new position in shares of Prologis in the third quarter valued at approximately $177,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE:PLD traded down $7.15 during trading on Wednesday, reaching $107.59. The company had a trading volume of 6,814,534 shares, compared to its average volume of 3,296,722. The firm’s fifty day moving average is $129.44 and its 200 day moving average is $122.30. The firm has a market capitalization of $99.53 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 twelve month low of $96.64 and a twelve month high of $137.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The company 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 company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. On average, equities analysts forecast that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is presently 116.72%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLD. Royal Bank of Canada raised their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Mizuho restated a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Robert W. Baird boosted their price objective on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $136.00 price objective on shares of Prologis in a research report on Monday, March 18th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus 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.