Eastern Bank Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Eastern Bank lessened its stake in Prologis, Inc. (NYSE:PLD) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 367,012 shares of the real estate investment trust’s stock after selling 4,350 shares during the period. Eastern Bank’s holdings in Prologis were worth $38,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PLD. Sunflower Bank N.A. acquired a new position in shares of Prologis in the 3rd quarter valued at $249,000. Coronation Fund Managers Ltd. acquired a new position in shares of Prologis in the second quarter valued at about $878,000. DekaBank Deutsche Girozentrale raised its stake in shares of Prologis by 2.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after purchasing an additional 29,400 shares during the last quarter. Cardano Risk Management B.V. acquired a new stake in shares of Prologis during the third quarter worth about $109,579,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in Prologis in the third quarter valued at approximately $1,051,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on PLD shares. Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $124.00 to $123.00 in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Truist Financial decreased their target price on shares of Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.06.

Prologis Price Performance

NYSE PLD traded up $1.78 during trading hours on Monday, hitting $105.37. 3,944,029 shares of the company’s stock traded hands, compared to its average volume of 4,060,883. 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 firm’s 50-day moving average is $110.94 and its 200-day moving average is $118.50. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a market capitalization of $97.59 billion, a PE ratio of 31.83, a PEG ratio of 3.27 and a beta of 1.09.

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

Prologis Dividend Announcement

The firm also recently disclosed 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 yield of 3.64%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is presently 116.01%.

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.