Prologis, Inc. (NYSE:PLD) Shares Acquired by Fulton Bank N.A.

Fulton Bank N.A. raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,217 shares of the real estate investment trust’s stock after acquiring an additional 1,808 shares during the quarter. Fulton Bank N.A.’s holdings in Prologis were worth $2,665,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after acquiring an additional 767,609 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after buying an additional 194,472 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Prologis by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after buying an additional 317,815 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after buying an additional 441,841 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after acquiring an additional 8,545,336 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of PLD traded down $1.28 during midday trading on Wednesday, reaching $105.30. The stock had a trading volume of 1,088,568 shares, compared to its average volume of 3,631,961. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $97.53 billion, a P/E ratio of 31.81, a P/E/G ratio of 3.27 and a beta of 1.09. The firm’s 50 day moving average price is $111.49 and its 200-day moving average price is $118.63.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 earnings per share. On average, analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is 116.01%.

Analyst Ratings Changes

PLD has been the subject of several recent research reports. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday. Evercore ISI upped their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Mizuho reduced their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday. Truist Financial dropped their price objective on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Finally, Scotiabank reduced their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.06.

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.