Fulton Bank N.A. Has $2.67 Million Stake in Prologis, Inc. (NYSE:PLD)

Fulton Bank N.A. raised its position in shares of Prologis, Inc. (NYSE:PLD) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,217 shares of the real estate investment trust’s stock after purchasing an additional 1,808 shares during the quarter. Fulton Bank N.A.’s holdings in Prologis were worth $2,665,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Semmax Financial Advisors Inc. acquired a new position in Prologis during the second quarter valued at $27,000. Sunbelt Securities Inc. boosted its position in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Prologis in the 2nd quarter worth about $31,000. Dunhill Financial LLC raised its stake in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares in the last quarter. Finally, Hara Capital LLC bought a new stake in shares of Prologis in the 3rd quarter valued at approximately $48,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 1.2 %

Shares of NYSE:PLD traded down $1.28 during trading on Wednesday, reaching $105.30. The stock had a trading volume of 1,088,568 shares, compared to its average volume of 3,631,961. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm’s fifty day moving average is $111.49 and its 200 day moving average is $118.63. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The stock has a market cap of $97.53 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 3.27 and a beta of 1.09.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.30 EPS. As a group, equities analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.65%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Analyst Ratings Changes

PLD has been the topic of several recent research reports. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and cut their target price for the company from $124.00 to $123.00 in a report on Monday. Truist Financial decreased their target price on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Barclays raised their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.06.

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.