Cerity Partners LLC Buys 78,697 Shares of Prologis, Inc. (NYSE:PLD)

Cerity Partners LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 217.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,808 shares of the real estate investment trust’s stock after buying an additional 78,697 shares during the quarter. Cerity Partners LLC’s holdings in Prologis were worth $15,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its position in shares of 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 buying an additional 1,034,211 shares during the period. FMR LLC lifted its position in shares of Prologis by 1.2% during the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after buying an additional 197,693 shares during the period. Morgan Stanley lifted its position in shares of Prologis by 48.0% during the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after buying an additional 4,729,040 shares during the period. Northern Trust Corp lifted its position in shares of Prologis by 0.7% during the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after buying an additional 92,036 shares during the period. Finally, Principal Financial Group Inc. raised its position in Prologis by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after purchasing an additional 268,667 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PLD shares. Morgan Stanley lifted their price objective on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Robert W. Baird lifted their price objective on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Royal Bank of Canada lifted their price objective on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, Barclays cut their price objective on Prologis from $153.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $141.67.

Prologis Stock Down 1.0 %

Shares of Prologis stock opened at $119.00 on Friday. The stock has a market cap of $110.08 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 2.40 and a beta of 1.00. The business has a fifty day simple moving average of $129.98 and a 200 day simple moving average of $122.18. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 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 the consensus estimate of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 earnings per share. Research analysts predict that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.23%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio is 116.72%.

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.