Prologis, Inc. (NYSE:PLD) Shares Purchased by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 65.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,669 shares of the real estate investment trust’s stock after buying an additional 3,044 shares during the period. Gilman Hill Asset Management LLC’s holdings in Prologis were worth $857,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PLD. Cohen & Steers Inc. grew its holdings in Prologis by 3.2% during the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock worth $2,994,557,000 after acquiring an additional 882,529 shares during the period. Geode Capital Management LLC increased its stake in Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock worth $2,252,853,000 after purchasing an additional 610,251 shares in the last quarter. FMR LLC increased its stake in Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Prologis by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock worth $1,754,282,000 after purchasing an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock worth $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Down 0.5%

PLD stock opened at $108.51 on Thursday. The stock’s fifty day simple moving average is $103.81 and its two-hundred day simple moving average is $110.50. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The stock has a market cap of $100.69 billion, a P/E ratio of 27.13, a P/E/G ratio of 2.70 and a beta of 1.25.

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, beating analysts’ consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.72%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of analyst reports. Truist Financial dropped their price target on Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Evercore ISI lowered their target price on Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research note on Thursday, April 17th. CJS Securities reduced their price target on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Wells Fargo & Company reduced their price target on Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Finally, Wall Street Zen upgraded Prologis from a “sell” rating to a “hold” rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average target price of $120.42.

Prologis Company 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.