First County Bank CT Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

First County Bank CT increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 21.0% in the 4th quarter, Holdings Channel reports. The firm owned 2,681 shares of the real estate investment trust’s stock after buying an additional 466 shares during the period. First County Bank CT’s holdings in Prologis were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Semmax Financial Advisors Inc. purchased a new stake in Prologis during the second quarter valued at $27,000. Sunbelt Securities Inc. increased its position in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Prologis in the 2nd quarter worth approximately $31,000. Dunhill Financial LLC lifted its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Finally, Hara Capital LLC purchased a new position in shares of Prologis in the third quarter worth approximately $48,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $106.62 on Wednesday. The firm has a market cap of $98.75 billion, a price-to-earnings ratio of 32.21, a P/E/G ratio of 3.27 and a beta of 1.09. The firm has a fifty day moving average price of $111.49 and a 200 day moving average price of $118.63. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.30 EPS. As a group, sell-side analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 116.01%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLD. Scotiabank decreased their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Raymond James reiterated an “outperform” rating and set a $125.00 target price (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Truist Financial reduced their price target on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.25.

About Prologis

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.