Great Lakes Retirement Inc. Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Great Lakes Retirement Inc. raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,462 shares of the real estate investment trust’s stock after acquiring an additional 246 shares during the period. Great Lakes Retirement Inc.’s holdings in Prologis were worth $711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sound Income Strategies LLC boosted its position in shares of Prologis by 142.9% during the fourth quarter. Sound Income Strategies LLC now owns 629 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 370 shares during the period. Ziegler Capital Management LLC acquired a new position in Prologis in the 4th quarter valued at about $4,257,000. OneAscent Financial Services LLC increased its stake in Prologis by 28.5% during the fourth quarter. OneAscent Financial Services LLC now owns 5,095 shares of the real estate investment trust’s stock worth $679,000 after purchasing an additional 1,131 shares during the period. Whittier Trust Co. boosted its stake in shares of Prologis by 6.4% in the fourth quarter. Whittier Trust Co. now owns 49,650 shares of the real estate investment trust’s stock valued at $6,618,000 after purchasing an additional 2,970 shares during the period. Finally, IFM Investors Pty Ltd grew its holdings in shares of Prologis by 1.3% in the fourth quarter. IFM Investors Pty Ltd now owns 182,259 shares of the real estate investment trust’s stock valued at $24,295,000 after purchasing an additional 2,315 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD stock traded up $1.13 during trading on Friday, reaching $123.75. 3,485,201 shares of the company were exchanged, compared to its average volume of 3,529,909. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.10. The stock’s 50 day moving average price is $111.97 and its 200 day moving average price is $120.30. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a market cap of $114.57 billion, a P/E ratio of 36.18, a PEG ratio of 2.90 and a beta of 1.06.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue was down 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 EPS. As a group, analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of recent research reports. UBS Group cut their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Evercore ISI upped their target price on shares of Prologis from $119.00 to $123.00 and gave the stock an “in-line” rating in a research note on Thursday. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Mizuho dropped their price objective on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Finally, Argus decreased their price objective on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $128.44.

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.