Westwood Holdings Group Inc. Raises Stock Position in Prologis, Inc. (NYSE:PLD)

Westwood Holdings Group Inc. raised its position in Prologis, Inc. (NYSE:PLD) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 742,567 shares of the real estate investment trust’s stock after acquiring an additional 82,755 shares during the period. Westwood Holdings Group Inc. owned approximately 0.08% of Prologis worth $78,489,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLD. Grassi Investment Management increased its holdings in shares of Prologis by 1.0% in the fourth quarter. Grassi Investment Management now owns 254,325 shares of the real estate investment trust’s stock valued at $26,882,000 after purchasing an additional 2,400 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of Prologis by 37.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 8,631 shares of the real estate investment trust’s stock worth $912,000 after acquiring an additional 2,333 shares during the period. Procyon Advisors LLC boosted its holdings in Prologis by 19.9% in the fourth quarter. Procyon Advisors LLC now owns 5,658 shares of the real estate investment trust’s stock valued at $598,000 after purchasing an additional 941 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of Prologis by 303.9% in the 4th quarter. Merit Financial Group LLC now owns 9,851 shares of the real estate investment trust’s stock valued at $1,041,000 after buying an additional 7,412 shares during the period. Finally, Sanibel Captiva Trust Company Inc. grew its holdings in Prologis by 6.0% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 4,902 shares of the real estate investment trust’s stock worth $518,000 after acquiring an additional 278 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $110.56 on Monday. The stock’s 50 day moving average price is $104.90 and its 200 day moving average price is $111.08. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The stock has a market cap of $102.59 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57.

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

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Tuesday, June 17th. Prologis’s payout ratio is presently 101.00%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PLD shares. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Morgan Stanley lowered their price target on Prologis to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Barclays cut their price objective on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Royal Bank of Canada lowered their price target on shares of 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, CJS Securities lowered their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.84.

Prologis Profile

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.