Cullen Frost Bankers Inc. Buys 8,905 Shares of Prologis, Inc. (NYSE:PLD)

Cullen Frost Bankers Inc. boosted its holdings in Prologis, Inc. (NYSE:PLD) by 19.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,050 shares of the real estate investment trust’s stock after buying an additional 8,905 shares during the period. Cullen Frost Bankers Inc.’s holdings in Prologis were worth $6,154,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PLD. Murphy & Mullick Capital Management Corp acquired a new stake in Prologis in the fourth quarter worth $26,000. Crowley Wealth Management Inc. acquired a new stake in Prologis in the fourth quarter worth $27,000. REAP Financial Group LLC raised its holdings in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 84 shares during the period. Olde Wealth Management LLC acquired a new stake in shares of Prologis during the first quarter worth $43,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 152 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of Prologis stock opened at $110.07 on Thursday. The company has a 50-day simple moving average of $107.47 and a two-hundred day simple moving average of $109.60. The stock has a market capitalization of $102.14 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 2.76 and a beta of 1.23. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $1.34 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were issued a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.67%. Prologis’s dividend payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PLD shares. Morgan Stanley dropped their price objective on shares of Prologis to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Evercore ISI dropped their price objective on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday, April 17th. CJS Securities lowered their price target on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Robert W. Baird lowered their price target on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Finally, BMO Capital Markets lowered their price target on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $120.47.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.