Prologis, Inc. (NYSE:PLD) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 66,012 shares of the real estate investment trust’s stock after acquiring an additional 1,068 shares during the period. Cullen Frost Bankers Inc.’s holdings in Prologis were worth $8,799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Columbia Trust Co 01012016 grew its holdings in shares of Prologis by 16.0% in the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after acquiring an additional 723 shares during the period. Cyndeo Wealth Partners LLC grew its holdings in Prologis by 39.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares during the last quarter. DNB Asset Management AS increased its position in shares of Prologis by 17.1% in the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after buying an additional 42,073 shares in the last quarter. Grassi Investment Management grew its holdings in Prologis by 31.8% in the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after buying an additional 60,900 shares during the period. Finally, Desjardins Global Asset Management Inc. increased its stake in shares of Prologis by 255.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after acquiring an additional 11,582 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 1.7 %

NYSE:PLD opened at $105.89 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $98.04 billion, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock has a 50-day simple moving average of $121.06 and a 200 day simple moving average of $121.90.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.63%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Analysts Set New Price Targets

PLD has been the subject of a number of recent analyst reports. Raymond James boosted their target price on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Evercore ISI reduced their price objective on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. BMO Capital Markets lowered Prologis from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $145.00 to $112.00 in a research note on Monday, April 22nd. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, UBS Group lowered their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

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.