Pallas Capital Advisors LLC Raises Holdings in Prologis, Inc. (NYSE:PLD)

Pallas Capital Advisors LLC boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,413 shares of the real estate investment trust’s stock after purchasing an additional 306 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Prologis were worth $2,953,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Cohen & Steers Inc. increased its holdings in Prologis by 3.2% during the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock worth $2,994,557,000 after purchasing an additional 882,529 shares during the period. Geode Capital Management LLC increased its holdings in Prologis by 2.9% during 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 during the period. FMR LLC increased its holdings in Prologis by 11.7% during 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 during the period. Massachusetts Financial Services Co. MA increased its holdings in Prologis by 2.1% during 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 during the period. Finally, Northern Trust Corp increased its holdings in Prologis by 54.6% during 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 during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PLD shares. BMO Capital Markets dropped their price objective on Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Morgan Stanley cut their target price on Prologis to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. CJS Securities cut their target price on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Evercore ISI cut their target price on Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research report on Thursday, April 17th. Finally, Mizuho cut their target price on Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $120.42.

Prologis Trading Up 0.1%

Shares of PLD stock opened at $108.95 on Tuesday. The business’s 50 day moving average is $103.61 and its two-hundred day moving average is $110.31. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a market capitalization of $101.10 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. 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 (NYSE:PLD) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.71%. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

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.