Scissortail Wealth Management LLC Takes Position in Prologis, Inc. (NYSE:PLD)

Scissortail Wealth Management LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,615 shares of the real estate investment trust’s stock, valued at approximately $334,000.

A number of other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Prologis by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after buying an additional 1,034,211 shares during the last quarter. FMR LLC boosted its holdings in Prologis by 1.2% in the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after purchasing an additional 197,693 shares during the last quarter. Morgan Stanley boosted its holdings in Prologis by 48.0% in the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after purchasing an additional 4,729,040 shares during the last quarter. Northern Trust Corp boosted its holdings in Prologis by 0.7% in the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after purchasing an additional 92,036 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Prologis by 2.3% in the third quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock worth $1,369,140,000 after purchasing an additional 268,667 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock traded down $1.05 on Wednesday, hitting $114.74. 5,666,402 shares of the stock traded hands, compared to its average volume of 3,211,141. The firm has a market cap of $106.14 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 2.31 and a beta of 1.00. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The firm has a 50 day simple moving average of $129.44 and a two-hundred day simple moving average of $122.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The company 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 was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. As a group, equities research analysts predict that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.96 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio is currently 116.72%.

Analysts Set New Price Targets

PLD has been the topic of several research reports. Morgan Stanley raised their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Royal Bank of Canada raised their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Mizuho restated a “neutral” rating and issued a $130.00 target price on shares of Prologis in a report on Tuesday, April 2nd. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $136.00 price target on shares of Prologis in a research report on Monday, March 18th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.67.

Prologis 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.