OLD Second National Bank of Aurora Acquires 677 Shares of Prologis, Inc. (NYSE:PLD)

OLD Second National Bank of Aurora increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 7.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,258 shares of the real estate investment trust’s stock after acquiring an additional 677 shares during the period. OLD Second National Bank of Aurora’s holdings in Prologis were worth $1,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BDF Gestion lifted its stake in shares of Prologis by 6.2% during the 4th quarter. BDF Gestion now owns 51,130 shares of the real estate investment trust’s stock worth $5,404,000 after acquiring an additional 2,963 shares during the last quarter. Synergy Asset Management LLC purchased a new position in Prologis during the 4th quarter worth $1,057,000. Hanson & Doremus Investment Management increased its holdings in Prologis by 42.2% during the 4th quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 185 shares during the period. Swedbank AB increased its holdings in Prologis by 1.8% during the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after purchasing an additional 80,575 shares during the period. Finally, Stonegate Investment Group LLC increased its holdings in Prologis by 1.1% during the 4th quarter. Stonegate Investment Group LLC now owns 570,343 shares of the real estate investment trust’s stock worth $60,285,000 after purchasing an additional 6,362 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Stock Down 0.7 %

Shares of PLD stock opened at $119.35 on Thursday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The stock’s fifty day moving average price is $110.73 and its 200 day moving average price is $118.41. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The company has a market cap of $110.53 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.22%. Prologis’s dividend payout ratio is currently 96.00%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLD. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Truist Financial raised their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. UBS Group raised their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Raymond James reiterated an “outperform” rating and issued a $125.00 price target (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.72.

Prologis Company 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.