Stock Yards Bank & Trust Co. Buys Shares of 1,881 Prologis, Inc. (NYSE:PLD)

Stock Yards Bank & Trust Co. bought a new stake in Prologis, Inc. (NYSE:PLD) in the 1st quarter, HoldingsChannel reports. The firm bought 1,881 shares of the real estate investment trust’s stock, valued at approximately $210,000.

Several other large investors also recently added to or reduced their stakes in the stock. Azzad Asset Management Inc. ADV grew its holdings in Prologis by 4.2% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 40,100 shares of the real estate investment trust’s stock valued at $4,483,000 after buying an additional 1,611 shares in the last quarter. CVA Family Office LLC grew its holdings in Prologis by 58.1% in the 1st quarter. CVA Family Office LLC now owns 1,690 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 621 shares in the last quarter. CCM Investment Advisers LLC grew its holdings in Prologis by 17.7% in the 1st quarter. CCM Investment Advisers LLC now owns 73,387 shares of the real estate investment trust’s stock valued at $8,204,000 after buying an additional 11,026 shares in the last quarter. Stanley Laman Group Ltd. grew its holdings in Prologis by 4.1% in the 1st quarter. Stanley Laman Group Ltd. now owns 24,514 shares of the real estate investment trust’s stock valued at $2,740,000 after buying an additional 957 shares in the last quarter. Finally, Bar Harbor Wealth Management grew its holdings in shares of Prologis by 36.3% during the 1st quarter. Bar Harbor Wealth Management now owns 16,216 shares of the real estate investment trust’s stock worth $1,813,000 after purchasing an additional 4,323 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD stock opened at $107.18 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The firm has a market capitalization of $99.45 billion, a P/E ratio of 26.79, a P/E/G ratio of 2.70 and a beta of 1.25. The business’s 50-day moving average is $104.61 and its two-hundred day moving average is $110.06. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.

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

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Barclays lowered their price target on Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Mizuho lowered their price target on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, April 11th. CJS Securities lowered their target price on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Finally, Scotiabank raised their target price on Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.42.

Prologis 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.