Toronto Dominion Bank Raises Holdings in Prologis, Inc. (NYSE:PLD)

Toronto Dominion Bank boosted its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 461,064 shares of the real estate investment trust's stock after purchasing an additional 6,002 shares during the period. Toronto Dominion Bank's holdings in Prologis were worth $58,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. M&G Plc lifted its stake in shares of Prologis by 3.4% during the 2nd quarter. M&G Plc now owns 3,010 shares of the real estate investment trust's stock worth $337,000 after acquiring an additional 100 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Prologis during the second quarter valued at $334,000. J.Safra Asset Management Corp bought a new position in shares of Prologis in the second quarter worth about $51,000. Swedbank AB increased its stake in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust's stock worth $561,805,000 after buying an additional 420,687 shares during the period. Finally, Triad Wealth Partners LLC purchased a new position in Prologis in the 2nd quarter worth about $54,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLD. Evercore ISI boosted their price target on Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a report on Monday, September 16th. Morgan Stanley increased their price target on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. cut their price target on Prologis from $138.00 to $131.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. BMO Capital Markets lowered shares of Prologis from a "market perform" rating to an "underperform" rating and lowered their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, Raymond James reissued an "outperform" rating and set a $125.00 target price (down previously from $130.00) on shares of Prologis in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $128.88.

Prologis Price Performance

Shares of Prologis stock traded down $0.28 on Thursday, hitting $111.68. The company's stock had a trading volume of 2,868,243 shares, compared to its average volume of 3,645,176. The company has a market capitalization of $103.44 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. The firm has a fifty day moving average price of $116.88 and a 200-day moving average price of $119.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.96 per share. The ex-dividend date is Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.44%. Prologis's dividend payout ratio is currently 116.01%.

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.