Thurston Springer Miller Herd & Titak Inc. Has $1.35 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Prologis, Inc. (NYSE:PLD) by 14.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,795 shares of the real estate investment trust’s stock after acquiring an additional 1,615 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Prologis were worth $1,352,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp boosted its holdings in Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after purchasing an additional 767,609 shares during the period. Geode Capital Management LLC boosted its stake in shares of Prologis by 0.9% in the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after buying an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Prologis by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after buying an additional 441,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Prologis by 12.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,237,322 shares of the real estate investment trust’s stock worth $475,894,000 after acquiring an additional 477,785 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. 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 report on Thursday, December 5th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $124.00 to $123.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.06.

Prologis Trading Up 2.7 %

NYSE:PLD opened at $108.26 on Wednesday. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. 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 $110.65 and its 200-day moving average is $118.43. The firm has a market cap of $100.27 billion, a P/E ratio of 32.71, a P/E/G ratio of 3.27 and a beta of 1.09.

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

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.55%. Prologis’s payout ratio is 116.01%.

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.