Federated Hermes Inc. Has $56.48 Million Holdings in Prologis, Inc. (NYSE:PLD)

Federated Hermes Inc. cut its position in Prologis, Inc. (NYSE:PLD) by 17.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 423,700 shares of the real estate investment trust’s stock after selling 92,254 shares during the quarter. Federated Hermes Inc.’s holdings in Prologis were worth $56,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Prologis in the 4th quarter valued at $980,759,000. Morgan Stanley boosted its holdings in Prologis by 48.0% in the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after purchasing an additional 4,729,040 shares during the period. Moneta Group Investment Advisors LLC bought a new stake in Prologis in the 4th quarter valued at $232,205,000. Legal & General Group Plc boosted its holdings in Prologis by 22.4% in the 4th quarter. Legal & General Group Plc now owns 11,130,145 shares of the real estate investment trust’s stock valued at $1,254,702,000 after purchasing an additional 2,038,187 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in Prologis in the 3rd quarter valued at $185,164,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on PLD. Raymond James increased their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Mizuho reaffirmed a “neutral” rating and set a $130.00 price objective on shares of Prologis in a report on Tuesday, April 2nd. Robert W. Baird raised their price objective on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. UBS Group reduced their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday. Finally, Evercore ISI reduced their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Prologis Stock Down 1.1 %

Shares of NYSE:PLD opened at $103.49 on Friday. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a 50 day moving average of $127.87 and a 200-day moving average of $122.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. The stock has a market cap of $95.73 billion, a price-to-earnings ratio of 30.26, a P/E/G ratio of 2.14 and a beta of 1.00.

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 the consensus estimate of $1.26 by ($0.58). Prologis had a return on equity of 5.49% and a net margin of 38.73%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Prologis, Inc. will post 5.47 earnings per share for the current year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.71%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is currently 112.28%.

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.