Prologis, Inc. (NYSE:PLD) Stake Increased by Zions Bancorporation N.A.

Zions Bancorporation N.A. grew its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 185.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,350 shares of the real estate investment trust's stock after acquiring an additional 32,065 shares during the quarter. Zions Bancorporation N.A.'s holdings in Prologis were worth $6,232,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PLD. Quantbot Technologies LP acquired a new stake in shares of Prologis during the first quarter worth about $352,000. Lord Abbett & CO. LLC raised its position in Prologis by 1.4% during the first quarter. Lord Abbett & CO. LLC now owns 200,161 shares of the real estate investment trust's stock valued at $26,065,000 after acquiring an additional 2,696 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in Prologis by 1.0% during the first quarter. Orion Portfolio Solutions LLC now owns 92,143 shares of the real estate investment trust's stock valued at $11,999,000 after acquiring an additional 916 shares in the last quarter. Blair William & Co. IL increased its position in shares of Prologis by 16.0% in the first quarter. Blair William & Co. IL now owns 29,186 shares of the real estate investment trust's stock valued at $3,801,000 after buying an additional 4,020 shares in the last quarter. Finally, Brighton Jones LLC increased its position in shares of Prologis by 0.8% in the first quarter. Brighton Jones LLC now owns 14,337 shares of the real estate investment trust's stock valued at $1,867,000 after buying an additional 118 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Argus boosted their price objective on Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Bank of America reiterated a "neutral" rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Morgan Stanley raised their target price on Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a report on Wednesday, August 14th. Truist Financial raised their target price on Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $131.12.

Prologis Stock Performance

Shares of Prologis stock traded down $1.82 on Thursday, reaching $114.75. 4,583,541 shares of the company were exchanged, compared to its average volume of 3,652,902. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The company's 50-day moving average is $121.87 and its two-hundred day moving average is $117.90. The firm has a market cap of $106.28 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 2.96 and a beta of 1.08. 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 issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company earned $1.30 earnings per share. The business's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Monday, September 16th. Prologis's payout ratio is currently 116.01%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

About Prologis

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.