Desjardins Global Asset Management Inc. Acquires 11,582 Shares of Prologis, Inc. (NYSE:PLD)

Desjardins Global Asset Management Inc. boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 255.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,124 shares of the real estate investment trust’s stock after purchasing an additional 11,582 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Prologis were worth $2,149,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PLD. Wealth Alliance grew its holdings in Prologis by 3.3% during the 4th quarter. Wealth Alliance now owns 11,853 shares of the real estate investment trust’s stock worth $1,580,000 after acquiring an additional 377 shares during the period. Flputnam Investment Management Co. lifted its position in Prologis by 73.7% in the 4th quarter. Flputnam Investment Management Co. now owns 38,972 shares of the real estate investment trust’s stock valued at $5,195,000 after acquiring an additional 16,540 shares in the last quarter. Capital Analysts LLC lifted its position in Prologis by 10.0% in the 4th quarter. Capital Analysts LLC now owns 24,248 shares of the real estate investment trust’s stock valued at $3,232,000 after acquiring an additional 2,204 shares in the last quarter. Private Client Services LLC bought a new position in shares of Prologis during the 4th quarter worth approximately $717,000. Finally, Bourgeon Capital Management LLC lifted its position in shares of Prologis by 28.5% during the 4th quarter. Bourgeon Capital Management LLC now owns 51,571 shares of the real estate investment trust’s stock worth $6,874,000 after buying an additional 11,433 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research reports. Mizuho reaffirmed a “neutral” rating and issued a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. Robert W. Baird lifted their price target on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. Raymond James lifted their price objective on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Morgan Stanley upped their price objective on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Finally, Barclays cut their price objective on shares of Prologis from $153.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $141.67.

Prologis Stock Down 0.9 %

PLD opened at $114.73 on Wednesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a market capitalization of $106.13 billion, a PE ratio of 34.87, a PEG ratio of 2.31 and a beta of 1.00. The firm’s 50 day simple moving average is $129.44 and its two-hundred day simple moving average is $122.30.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $1.24 earnings per share. As a group, equities analysts forecast that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. Prologis’s dividend payout ratio is 116.72%.

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.