Verity & Verity LLC Has $12.79 Million Position in Prologis, Inc. (NYSE:PLD)

Verity & Verity LLC raised its position in Prologis, Inc. (NYSE:PLD) by 20.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,429 shares of the real estate investment trust’s stock after acquiring an additional 19,230 shares during the quarter. Verity & Verity LLC’s holdings in Prologis were worth $12,792,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PLD. Brighton Jones LLC raised its position in shares of Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. Empowered Funds LLC raised its position in shares of Prologis by 14.5% in the fourth quarter. Empowered Funds LLC now owns 39,797 shares of the real estate investment trust’s stock valued at $4,207,000 after purchasing an additional 5,042 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Prologis in the fourth quarter valued at about $72,000. Quent Capital LLC raised its position in shares of Prologis by 12.5% in the fourth quarter. Quent Capital LLC now owns 1,502 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 167 shares during the period. Finally, Certuity LLC bought a new position in shares of Prologis in the fourth quarter valued at about $225,000. 93.50% of the stock is owned by institutional investors.

Prologis Trading Down 0.1%

PLD opened at $108.36 on Friday. The company’s 50 day moving average is $104.26 and its 200-day moving average is $110.23. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $100.55 billion, a P/E ratio of 27.09, a PEG ratio of 2.70 and a beta of 1.25.

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

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.73%. Prologis’s dividend payout ratio is presently 101.00%.

Analyst Upgrades and Downgrades

PLD has been the topic of several research analyst reports. Mizuho dropped their price objective on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Truist Financial lowered their price target on shares of Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Evercore ISI lowered their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research report on Thursday, April 17th. Robert W. Baird lowered their price target on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Finally, Wall Street Zen raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned 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, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.