Johnson Financial Group Inc. Grows Stake in Prologis, Inc. (NYSE:PLD)

Johnson Financial Group Inc. increased its holdings in Prologis, Inc. (NYSE:PLD) by 162.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 546 shares of the real estate investment trust’s stock after acquiring an additional 338 shares during the quarter. Johnson Financial Group Inc.’s holdings in Prologis were worth $58,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis during the fourth quarter valued at approximately $26,000. Crowley Wealth Management Inc. bought a new position in Prologis during the 4th quarter valued at $27,000. Centricity Wealth Management LLC bought a new position in Prologis during the 4th quarter valued at $30,000. Promus Capital LLC bought a new position in Prologis during the 4th quarter valued at $34,000. Finally, Whipplewood Advisors LLC bought a new position in Prologis during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PLD shares. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Morgan Stanley cut their price objective on Prologis to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. BMO Capital Markets cut their price objective on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, Royal Bank of Canada upped their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.32.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.

Prologis Trading Up 1.2 %

Shares of Prologis stock opened at $103.43 on Tuesday. The company’s fifty day simple moving average is $109.11 and its 200-day simple moving average is $112.36. The company has a market cap of $95.88 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 2.70 and a beta of 1.20. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. As a group, sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is 101.00%.

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.