First National Trust Co Has $1.53 Million Holdings in Prologis, Inc. (NYSE:PLD)

First National Trust Co lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 34.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,449 shares of the real estate investment trust’s stock after selling 5,885 shares during the quarter. First National Trust Co’s holdings in Prologis were worth $1,526,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its position in Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after acquiring an additional 1,034,211 shares during the last quarter. FMR LLC grew its position in shares of Prologis by 1.2% in the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after purchasing an additional 197,693 shares during the last quarter. Northern Trust Corp increased its stake in shares of Prologis by 0.7% in the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after purchasing an additional 92,036 shares during the period. Principal Financial Group Inc. lifted its position in shares of Prologis by 2.3% during the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock worth $1,369,140,000 after purchasing an additional 268,667 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Prologis by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,344,542 shares of the real estate investment trust’s stock valued at $1,048,551,000 after purchasing an additional 121,159 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PLD shares. BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Morgan Stanley raised their price target 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. Mizuho restated a “neutral” rating and set a $130.00 price objective on shares of Prologis in a report on Tuesday, April 2nd. Finally, UBS Group reduced their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.35.

Prologis Price Performance

Prologis stock traded up $1.36 during mid-day trading on Friday, hitting $105.89. 3,517,673 shares of the company were exchanged, compared to its average volume of 4,890,799. The company has a market capitalization of $98.04 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. The business has a fifty day moving average of $122.11 and a 200 day moving average of $121.63. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

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

Prologis Company Profile

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.