Telos Capital Management Inc. Acquires 534 Shares of Prologis, Inc. (NYSE:PLD)

Telos Capital Management Inc. boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,761 shares of the real estate investment trust’s stock after purchasing an additional 534 shares during the period. Telos Capital Management Inc.’s holdings in Prologis were worth $1,034,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Columbia Trust Co 01012016 grew its holdings in Prologis by 16.0% during the 4th 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 last quarter. Cyndeo Wealth Partners LLC grew its holdings in Prologis by 39.4% during the 4th 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 last quarter. DNB Asset Management AS grew its holdings in Prologis by 17.1% during the 4th 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 last quarter. Grassi Investment Management grew its holdings in Prologis by 31.8% during the 4th 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 last quarter. Finally, Selway Asset Management bought a new position in Prologis during the 3rd quarter valued at about $177,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the topic of several analyst reports. Barclays cut their price target on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Royal Bank of Canada upped their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Evercore ISI restated an “in-line” rating and issued a $136.00 target price on shares of Prologis in a research note on Monday, March 18th. Finally, Mizuho restated a “neutral” rating and issued a $130.00 target price on shares of Prologis in a research note on Tuesday, April 2nd. 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. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $141.27.

Prologis Trading Down 7.2 %

NYSE:PLD opened at $106.49 on Thursday. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The firm has a 50 day moving average of $128.99 and a 200 day moving average of $122.19. 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 stock has a market capitalization of $98.51 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 2.29 and a beta of 1.00.

Prologis (NYSE:PLD) last issued 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 for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the company posted $1.24 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.61%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is presently 116.72%.

Prologis 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.