Toronto Dominion Bank Buys 37,661 Shares of Prologis, Inc. (NYSE:PLD)

Toronto Dominion Bank lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 498,725 shares of the real estate investment trust’s stock after acquiring an additional 37,661 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of Prologis worth $52,715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Prologis during the 4th quarter valued at approximately $951,263,000. Northern Trust Corp grew 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 valued at $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. Capital Research Global Investors raised its position in shares of Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock valued at $1,304,922,000 after buying an additional 2,500,761 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Prologis in the fourth quarter worth $254,876,000. Finally, FMR LLC boosted its position in shares of Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after acquiring an additional 1,875,978 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank of Canada dropped their price objective on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a report on Tuesday, April 29th. CJS Securities cut their price target on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Robert W. Baird reduced their price objective on Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Morgan Stanley reduced their price target on shares of Prologis to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. One research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.84.

Prologis Stock Performance

NYSE PLD opened at $110.56 on Friday. The stock’s fifty day moving average is $104.90 and its two-hundred day moving average is $111.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm has a market capitalization of $102.59 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued 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 yield of 3.65%. Prologis’s dividend payout ratio (DPR) is 101.00%.

About Prologis

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.