US Bancorp DE Has $84.71 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

US Bancorp DE boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 635,443 shares of the real estate investment trust’s stock after acquiring an additional 91,072 shares during the quarter. US Bancorp DE owned approximately 0.07% of Prologis worth $84,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Prologis by 18.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 93,512 shares of the real estate investment trust’s stock valued at $12,465,000 after acquiring an additional 14,603 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Prologis by 63.3% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,767 shares of the real estate investment trust’s stock worth $236,000 after buying an additional 685 shares during the period. King Luther Capital Management Corp lifted its holdings in Prologis by 34.1% in the fourth quarter. King Luther Capital Management Corp now owns 8,655 shares of the real estate investment trust’s stock valued at $1,154,000 after buying an additional 2,203 shares during the period. Franklin Resources Inc. grew its holdings in Prologis by 30.2% during the 4th quarter. Franklin Resources Inc. now owns 1,505,128 shares of the real estate investment trust’s stock worth $200,634,000 after acquiring an additional 348,896 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Prologis by 11.2% in the 4th quarter. Assetmark Inc. now owns 54,553 shares of the real estate investment trust’s stock worth $7,272,000 after purchasing an additional 5,487 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.5 %

PLD traded down $0.53 during trading on Friday, reaching $105.11. 1,043,988 shares of the stock were exchanged, compared to its average volume of 3,538,466. The stock has a market cap of $97.32 billion, a P/E ratio of 30.89, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05. 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 stock’s 50 day moving average price is $115.17 and its two-hundred day moving average price is $122.26. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a $0.96 dividend. The ex-dividend date is Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.65%. Prologis’s payout ratio is 112.28%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. The Goldman Sachs Group lowered their target price on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. BMO Capital Markets cut shares of Prologis from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. 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. Finally, Robert W. Baird reduced their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.35.

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.