Johnson Financial Group Inc. Buys 338 Shares of Prologis, Inc. (NYSE:PLD)

Johnson Financial Group Inc. raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 162.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 546 shares of the real estate investment trust’s stock after acquiring an additional 338 shares during the quarter. Johnson Financial Group Inc.’s holdings in Prologis were worth $58,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLD. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis during the fourth quarter valued at $26,000. Crowley Wealth Management Inc. bought a new position in shares of Prologis during the fourth quarter valued at $27,000. Centricity Wealth Management LLC bought a new position in shares of Prologis in the fourth quarter valued at about $30,000. Whipplewood Advisors LLC acquired a new position in Prologis during the 4th quarter worth about $34,000. Finally, Promus Capital LLC bought a new stake in Prologis during the 4th quarter worth about $34,000. 93.50% of the stock is owned by institutional investors.

Prologis Stock Up 1.2 %

Shares of NYSE:PLD opened at $103.43 on Tuesday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a market capitalization of $95.88 billion, a PE ratio of 25.86, a PEG ratio of 2.70 and a beta of 1.20. The company has a 50 day moving average price of $109.11 and a two-hundred day moving average price of $112.36.

Prologis (NYSE:PLD) last issued its earnings results 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 firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.91%. The ex-dividend date was Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is presently 101.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PLD shares. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Royal Bank of Canada upped their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. BTIG Research reduced their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Evercore ISI reduced their target price on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research report on Thursday, April 17th. Finally, UBS Group upped their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and an average price target of $123.32.

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.