NBC Securities Inc. Has $276,000 Holdings in Prologis, Inc. (NYSE:PLD)

NBC Securities Inc. lifted its stake in Prologis, Inc. (NYSE:PLD) by 123,350.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,469 shares of the real estate investment trust’s stock after buying an additional 2,467 shares during the quarter. NBC Securities Inc.’s holdings in Prologis were worth $276,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PLD. Norges Bank acquired a new stake in shares of Prologis during the 4th quarter worth about $951,263,000. Northern Trust Corp increased its holdings in shares of Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock worth $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock worth $1,304,922,000 after buying an additional 2,500,761 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Prologis during the fourth quarter worth approximately $254,876,000. Finally, FMR LLC increased its holdings in Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial dropped their price target on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a report on Monday, May 5th. Evercore ISI lowered their target price on Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research note on Thursday, April 17th. Morgan Stanley lowered their price objective on shares of Prologis to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Royal Bank of Canada lowered their price objective on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Finally, Robert W. Baird lowered their price target on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.42.

Prologis Stock Up 1.0%

Shares of Prologis stock opened at $108.91 on Friday. The stock has a market cap of $101.06 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The business has a fifty day simple moving average of $103.68 and a 200 day simple moving average of $110.38. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. Research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio (DPR) is 101.00%.

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.