Greenleaf Trust Has $2.49 Million Stake in Prologis, Inc. (NYSE:PLD)

Greenleaf Trust lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 16.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,666 shares of the real estate investment trust’s stock after selling 3,722 shares during the period. Greenleaf Trust’s holdings in Prologis were worth $2,488,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Thompson Investment Management Inc. acquired a new position in Prologis during the 4th quarter valued at about $28,000. FinTrust Capital Advisors LLC boosted its stake in Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Fairfield Bush & CO. bought a new position in shares of Prologis during the 2nd quarter worth approximately $35,000. Qube Research & Technologies Ltd lifted its position in shares of Prologis by 102.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 318 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 13,518 shares in the last quarter. Finally, Salem Investment Counselors Inc. bought a new position in shares of Prologis during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the topic of several recent analyst reports. Evercore ISI dropped their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday. Royal Bank of Canada lifted their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Morgan Stanley lifted their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, Raymond James lifted their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Prologis Stock Down 1.1 %

Prologis stock opened at $103.49 on Friday. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The firm has a market capitalization of $95.73 billion, a price-to-earnings ratio of 30.26, a P/E/G ratio of 2.10 and a beta of 1.00. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The firm has a 50 day simple moving average of $127.87 and a 200 day simple moving average of $122.02.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates 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 38.73% and a return on equity of 5.49%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 earnings per share. On average, analysts predict that Prologis, Inc. will post 5.47 earnings per share for the current year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is 112.28%.

About Prologis

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.