HTLF Bank Acquires New Position in Prologis, Inc. (NYSE:PLD)

HTLF Bank purchased a new position in shares of Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 20,824 shares of the real estate investment trust’s stock, valued at approximately $2,776,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Thompson Investment Management Inc. purchased a new position in shares of Prologis during the 4th quarter worth approximately $28,000. FinTrust Capital Advisors LLC boosted its position in Prologis by 966.7% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 232 shares during the period. Salem Investment Counselors Inc. purchased a new position in Prologis in the 4th quarter valued at approximately $37,000. Fairfield Bush & CO. purchased a new position in Prologis in the 2nd quarter valued at approximately $35,000. Finally, FNY Investment Advisers LLC purchased a new position in Prologis in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

NYSE PLD traded down $1.42 during trading on Friday, reaching $103.27. The company’s stock had a trading volume of 2,250,157 shares, compared to its average volume of 3,376,661. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. The firm has a market cap of $95.53 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 2.14 and a beta of 1.00. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The business’s fifty day moving average price is $128.45 and its 200-day moving average price is $122.07.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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). Prologis had a net margin of 38.73% and a return on equity of 5.49%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts anticipate that Prologis, Inc. will post 5.47 EPS for the current fiscal 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 paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.72%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is 112.28%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Mizuho reissued a “neutral” rating and issued a $130.00 price target on shares of Prologis in a research report on Tuesday, April 2nd. Royal Bank of Canada raised their price target on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Morgan Stanley raised their price target on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Barclays decreased their price target on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Robert W. Baird lifted their price objective on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $140.00.

About Prologis

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.