Putnam Investments LLC Acquires 1,423 Shares of Prologis, Inc. (NYSE:PLD)

Putnam Investments LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 738,467 shares of the real estate investment trust’s stock after buying an additional 1,423 shares during the quarter. Putnam Investments LLC owned about 0.08% of Prologis worth $98,438,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PLD. FMR LLC increased its stake in shares of Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after buying an additional 197,693 shares during the period. Northern Trust Corp boosted its holdings in Prologis by 0.7% in the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after acquiring an additional 92,036 shares during the last quarter. Principal Financial Group Inc. increased its position in Prologis by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock worth $1,642,997,000 after purchasing an additional 123,902 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Prologis by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock worth $1,268,992,000 after purchasing an additional 175,276 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Prologis by 0.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,981,242 shares of the real estate investment trust’s stock valued at $1,008,898,000 after purchasing an additional 76,605 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of PLD stock opened at $111.56 on Wednesday. The firm has a market cap of $103.29 billion, a PE ratio of 32.62, a P/E/G ratio of 2.47 and a beta of 1.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company’s fifty day simple moving average is $109.94 and its 200-day simple moving average is $122.46. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.96 per share. The ex-dividend date is Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.44%. Prologis’s dividend payout ratio is 112.28%.

Wall Street Analyst Weigh In

PLD has been the subject of a number of analyst reports. Evercore ISI lowered their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday, April 18th. The Goldman Sachs Group reduced their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Scotiabank lowered their target price on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. Royal Bank of Canada reduced their price target on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Finally, BMO Capital Markets cut shares of Prologis from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $145.00 to $112.00 in a research report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

Prologis 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.