First Citizens Bank & Trust Co. Boosts Stock Holdings in Prologis, Inc. (NYSE:PLD)

First Citizens Bank & Trust Co. raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1,451.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 31,180 shares of the real estate investment trust’s stock after purchasing an additional 29,170 shares during the period. First Citizens Bank & Trust Co.’s holdings in Prologis were worth $3,486,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. REAP Financial Group LLC increased its position in Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 84 shares during the period. Phoenix Financial Ltd. increased its position in Prologis by 1.0% during the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock valued at $955,000 after purchasing an additional 86 shares during the period. Principle Wealth Partners LLC increased its position in Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after purchasing an additional 92 shares during the period. Black Diamond Financial LLC increased its position in Prologis by 2.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 93 shares during the period. Finally, CreativeOne Wealth LLC increased its position in Prologis by 1.7% during the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust’s stock valued at $642,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE PLD opened at $108.95 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The company has a 50 day simple moving average of $103.61 and a two-hundred day simple moving average of $110.31. The stock has a market cap of $101.10 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. As a group, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s payout ratio is 101.00%.

Analysts Set New Price Targets

PLD has been the topic of a number of recent analyst reports. Wolfe Research cut shares of Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. Truist Financial lowered their price target on shares of Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Scotiabank raised their price target on shares of Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a report on Monday, May 12th. Royal Bank of Canada lowered their price target on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Friday, May 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.42.

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.