Zions Bancorporation N.A. Acquires 438 Shares of Prologis, Inc. (NYSE:PLD)

Zions Bancorporation N.A. lifted its holdings in shares of Prologis, Inc. (NYSE:PLD – Get Rating) by 7.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,979 shares of the real estate investment trust’s stock after purchasing an additional 438 shares during the period. Zions Bancorporation N.A.’s holdings in Prologis were worth $674,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PLD. RB Capital Management LLC boosted its holdings in Prologis by 14.7% in the first quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock valued at $485,000 after acquiring an additional 385 shares during the last quarter. Blair William & Co. IL boosted its holdings in Prologis by 5.3% in the first quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock valued at $3,490,000 after acquiring an additional 1,092 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Prologis by 87.7% in the first quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock valued at $546,000 after acquiring an additional 1,580 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in Prologis by 41.8% in the first quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock valued at $38,952,000 after acquiring an additional 71,112 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Prologis by 500.7% in the first quarter. Brown Brothers Harriman & Co. now owns 3,442 shares of the real estate investment trust’s stock valued at $556,000 after acquiring an additional 2,869 shares during the last quarter. Institutional investors own 75.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PLD. BMO Capital Markets increased their target price on Prologis from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. Mizuho began coverage on Prologis in a research note on Monday, March 20th. They issued a “buy” rating and a $140.00 target price on the stock. Barclays cut their target price on Prologis from $162.00 to $160.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 31st. Truist Financial raised their price target on Prologis from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Finally, The Goldman Sachs Group raised their price target on Prologis from $157.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.90.

Prologis Stock Up 1.2 %

PLD stock traded up $1.49 during mid-day trading on Friday, reaching $123.47. The company had a trading volume of 189,739 shares, compared to its average volume of 2,876,425. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a 50 day simple moving average of $122.26 and a two-hundred day simple moving average of $120.67. The company has a market capitalization of $114.02 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 2.88 and a beta of 1.00. Prologis, Inc. has a 52 week low of $98.03 and a 52 week high of $138.86.

Prologis (NYSE:PLD – Get Rating) last issued its earnings results on Tuesday, April 18th. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.71). Prologis had a return on equity of 5.54% and a net margin of 41.06%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The business’s revenue was up 64.3% compared to the same quarter last year. As a group, equities analysts predict that Prologis, Inc. will post 5.49 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a dividend of $0.87 per share. The ex-dividend date is Thursday, June 15th. This represents a $3.48 annualized dividend and a yield of 2.82%. Prologis’s payout ratio is currently 105.14%.

Prologis Profile

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Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.