US Bancorp DE Has $55.26 Million Holdings in Prologis, Inc. (NYSE:PLD)

US Bancorp DE lifted its holdings in Prologis, Inc. (NYSE:PLD) by 23.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 450,584 shares of the real estate investment trust’s stock after purchasing an additional 84,428 shares during the quarter. US Bancorp DE’s holdings in Prologis were worth $55,255,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PLD. Sageworth Trust Co bought a new stake in Prologis during the first quarter worth $26,000. Headlands Technologies LLC bought a new position in shares of Prologis in the first quarter valued at about $30,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Prologis in the first quarter valued at about $31,000. Centerpoint Advisors LLC bought a new position in shares of Prologis in the first quarter valued at about $34,000. Finally, Spotlight Asset Group Inc. bought a new position in shares of Prologis in the second quarter valued at about $37,000. Institutional investors own 90.90% of the company’s stock.

Prologis Trading Up 0.4 %

NYSE PLD traded up $0.49 during trading hours on Thursday, reaching $111.00. The company’s stock had a trading volume of 428,153 shares, compared to its average volume of 2,971,326. The firm has a fifty day simple moving average of $109.83 and a 200-day simple moving average of $118.71. The stock has a market cap of $102.56 billion, a P/E ratio of 34.11, a P/E/G ratio of 2.14 and a beta of 1.02. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $136.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.04. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.72 billion. Prologis had a net margin of 38.24% and a return on equity of 5.21%. The company’s revenue was up 53.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.73 EPS. Equities analysts forecast that Prologis, Inc. will post 5.6 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Friday, September 15th. Prologis’s payout ratio is currently 107.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore ISI dropped their price objective on shares of Prologis from $132.00 to $125.00 in a research report on Monday, October 9th. Truist Financial decreased their price target on shares of Prologis from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, October 24th. Mizuho restated a “buy” rating and issued a $140.00 price target on shares of Prologis in a research note on Wednesday, September 13th. Morgan Stanley restated an “overweight” rating and issued a $128.00 price target on shares of Prologis in a research note on Thursday, July 20th. Finally, BNP Paribas upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and set a $141.00 price target on the stock in a research note on Thursday, July 20th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $139.60.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At September 30, 2023, 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 (114 million square meters) in 19 countries.