Prologis, Inc. (NYSE:PLD) Shares Bought by CCM Investment Advisers LLC

CCM Investment Advisers LLC grew its stake in Prologis, Inc. (NYSE:PLD) by 17.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,387 shares of the real estate investment trust’s stock after purchasing an additional 11,026 shares during the period. CCM Investment Advisers LLC’s holdings in Prologis were worth $8,204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Norges Bank acquired a new stake in Prologis during the fourth quarter valued at $951,263,000. Northern Trust Corp boosted its stake in shares of Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock worth $1,464,509,000 after acquiring an additional 4,893,284 shares in the last quarter. Capital Research Global Investors grew its position in shares of Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock valued at $1,304,922,000 after acquiring an additional 2,500,761 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Prologis during the 4th quarter valued at about $254,876,000. Finally, FMR LLC increased its stake in shares of Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley lowered their price target on Prologis to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada dropped their price target on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company cut their price target on shares of Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Robert W. Baird decreased their price objective on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Finally, Barclays dropped their target price on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. One investment 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, Prologis has an average rating of “Moderate Buy” and a consensus price target of $120.42.

Prologis Stock Performance

Prologis stock opened at $108.36 on Friday. The firm has a 50 day simple moving average of $104.26 and a 200-day simple moving average of $110.23. The stock has a market cap of $100.55 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57.

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

Prologis Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Tuesday, June 17th. Prologis’s dividend payout ratio (DPR) is 101.00%.

Prologis 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.