Bridges Investment Management Inc. Acquires 5,161 Shares of Prologis, Inc. (NYSE:PLD)

Bridges Investment Management Inc. increased its position in Prologis, Inc. (NYSE:PLDFree Report) by 40.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,941 shares of the real estate investment trust’s stock after purchasing an additional 5,161 shares during the period. Bridges Investment Management Inc.’s holdings in Prologis were worth $2,392,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings in Prologis by 6.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after acquiring an additional 1,034,211 shares in the last quarter. FMR LLC increased its holdings in Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after acquiring an additional 197,693 shares in the last quarter. Morgan Stanley increased its holdings in Prologis by 48.0% in the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after acquiring an additional 4,729,040 shares in the last quarter. Northern Trust Corp increased its holdings in Prologis by 0.7% in the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after acquiring an additional 92,036 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Prologis by 2.3% in the 3rd 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 acquiring an additional 268,667 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 1.5 %

Shares of Prologis stock traded up $1.88 during trading on Thursday, hitting $127.97. 168,960 shares of the stock traded hands, compared to its average volume of 3,076,593. The firm has a market cap of $118.38 billion, a P/E ratio of 38.33, a price-to-earnings-growth ratio of 2.51 and a beta of 1.00. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock’s fifty day simple moving average is $130.62 and its 200 day simple moving average is $121.88.

Prologis (NYSE:PLDGet Free Report) last announced its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 EPS. On average, equities analysts predict that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.00%. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is 116.72%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Evercore ISI reaffirmed an “in-line” rating and set a $136.00 price objective on shares of Prologis in a report on Monday, March 18th. Robert W. Baird increased their price objective on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a report on Tuesday, January 23rd. Scotiabank increased their price objective on shares of Prologis from $134.00 to $143.00 and gave the company a “sector outperform” rating in a report on Friday, December 15th. Finally, TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.67.

Check Out Our Latest Stock Report on PLD

Prologis Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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