Franklin Resources Inc. Acquires 348,896 Shares of Prologis, Inc. (NYSE:PLD)

Franklin Resources Inc. grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 30.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,505,128 shares of the real estate investment trust’s stock after purchasing an additional 348,896 shares during the quarter. Franklin Resources Inc. owned about 0.16% of Prologis worth $200,634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. bought a new position in Prologis during the fourth quarter worth about $28,000. JFS Wealth Advisors LLC lifted its holdings in shares of Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 168 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Prologis in the fourth quarter worth about $37,000. Private Wealth Management Group LLC purchased a new stake in shares of Prologis in the fourth quarter worth about $38,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Prologis in the fourth quarter worth about $39,000. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PLD. Robert W. Baird lowered their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Royal Bank of Canada lowered their price target on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. UBS Group lowered their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Scotiabank lowered their target price on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 16th. Finally, BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $145.00 to $112.00 in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $130.35.

Prologis Trading Up 0.2 %

NYSE:PLD traded up $0.20 during trading hours on Wednesday, hitting $110.80. The company had a trading volume of 924,468 shares, compared to its average volume of 3,533,208. The company has a market capitalization of $102.58 billion, a PE ratio of 32.34, a price-to-earnings-growth ratio of 2.33 and a beta of 1.05. The stock has a 50-day moving average price of $116.16 and a 200 day moving average price of $122.47. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Monday, June 17th. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

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.