Grassi Investment Management Acquires 2,400 Shares of Prologis, Inc. (NYSE:PLD)

Grassi Investment Management raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 254,325 shares of the real estate investment trust’s stock after buying an additional 2,400 shares during the quarter. Prologis comprises 2.3% of Grassi Investment Management’s investment portfolio, making the stock its 8th largest holding. Grassi Investment Management’s holdings in Prologis were worth $26,882,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PLD. Cardano Risk Management B.V. increased its holdings in Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after buying an additional 25,266 shares during the period. Green Alpha Advisors LLC boosted its position in shares of Prologis by 1.5% during the 4th quarter. Green Alpha Advisors LLC now owns 10,320 shares of the real estate investment trust’s stock valued at $1,091,000 after acquiring an additional 152 shares in the last quarter. Czech National Bank increased its stake in Prologis by 6.5% in the fourth quarter. Czech National Bank now owns 200,813 shares of the real estate investment trust’s stock valued at $21,226,000 after acquiring an additional 12,195 shares during the period. RMR Wealth Builders raised its position in Prologis by 22.7% in the fourth quarter. RMR Wealth Builders now owns 2,633 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 487 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Prologis by 3.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 19,706 shares of the real estate investment trust’s stock worth $2,083,000 after purchasing an additional 712 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLD has been the topic of several analyst reports. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. JPMorgan Chase & Co. reduced their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Truist Financial cut 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. Finally, Scotiabank reduced their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.06.

Prologis Trading Up 1.2 %

Shares of NYSE PLD traded up $1.28 during mid-day trading on Monday, hitting $104.87. The company’s stock had a trading volume of 3,266,540 shares, compared to its average volume of 3,999,775. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The company’s fifty day simple moving average is $110.94 and its 200-day simple moving average is $118.50. 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 stock has a market cap of $97.13 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09.

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 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%. Prologis’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business 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. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.66%. Prologis’s dividend payout ratio is presently 116.01%.

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.