Raymond James Financial Services Advisors Inc. Raises Stake in Prologis, Inc. (NYSE:PLD)

Raymond James Financial Services Advisors Inc. lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 4.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 223,532 shares of the real estate investment trust’s stock after purchasing an additional 9,180 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Prologis were worth $29,797,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its position in shares of Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after acquiring an additional 1,034,211 shares in the last quarter. FMR LLC increased its position in Prologis by 1.2% in the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after buying an additional 197,693 shares during the period. Morgan Stanley increased its position in Prologis by 48.0% in the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after buying an additional 4,729,040 shares during the period. Northern Trust Corp grew its stake in shares of Prologis by 0.7% in the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after purchasing an additional 92,036 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Prologis by 2.3% in the third quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock worth $1,369,140,000 after purchasing an additional 268,667 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PLD shares. Barclays decreased their price target on Prologis from $153.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday. Mizuho raised their target price on Prologis from $125.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Royal Bank of Canada raised their target price on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Raymond James raised their target price on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Finally, Scotiabank raised their target price on Prologis from $134.00 to $143.00 and gave the company a “sector outperform” rating in a research note on Friday, December 15th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.67.

Prologis Stock Up 3.0 %

Shares of PLD stock opened at $128.87 on Thursday. The stock’s 50 day simple moving average is $130.52 and its 200 day simple moving average is $121.64. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a market capitalization of $119.21 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 2.54 and a beta of 1.00.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.24 earnings per share. As a group, research analysts predict that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 18th will be issued a $0.96 dividend. The ex-dividend date is Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 2.98%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is 116.72%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 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 (115 million square meters) in 19 countries.