Cambridge Trust Co. Boosts Stake in Prologis, Inc. (NYSE:PLD)

Cambridge Trust Co. lifted its holdings in Prologis, Inc. (NYSE:PLD) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,074 shares of the real estate investment trust’s stock after buying an additional 2,060 shares during the period. Prologis makes up 1.2% of Cambridge Trust Co.’s holdings, making the stock its 28th biggest position. Cambridge Trust Co.’s holdings in Prologis were worth $28,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Columbia Trust Co 01012016 increased its position in Prologis by 16.0% during the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 723 shares during the last quarter. Cyndeo Wealth Partners LLC increased its position in Prologis by 39.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock worth $5,599,000 after purchasing an additional 11,882 shares during the last quarter. DNB Asset Management AS increased its position in Prologis by 17.1% during the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after purchasing an additional 42,073 shares during the last quarter. Grassi Investment Management increased its position in Prologis by 31.8% during the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after purchasing an additional 60,900 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. increased its position in Prologis by 255.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after purchasing an additional 11,582 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLD. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Mizuho reiterated a “neutral” rating and set a $130.00 price target on shares of Prologis in a research report on Tuesday, April 2nd. Raymond James lifted their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. UBS Group dropped their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Evercore ISI dropped 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 equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Prologis Stock Down 2.1 %

Shares of NYSE:PLD traded down $2.20 during trading on Thursday, hitting $104.29. 3,556,972 shares of the company were exchanged, compared to its average volume of 3,357,900. The stock has a market capitalization of $96.47 billion, a P/E ratio of 31.56, a PEG ratio of 2.29 and a beta of 1.00. 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, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The firm’s 50 day moving average price is $128.99 and its 200-day moving average price is $122.19.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 EPS. On average, research analysts predict that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a $0.96 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.68%. Prologis’s dividend payout ratio is 116.72%.

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.