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

First County Bank CT grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 21.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,681 shares of the real estate investment trust’s stock after buying an additional 466 shares during the quarter. First County Bank CT’s holdings in Prologis were worth $283,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. ASB Consultores LLC increased its stake in Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 86 shares during the period. CX Institutional grew its holdings in shares of Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA increased its stake in shares of Prologis by 5.1% in the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 90 shares during the period. DT Investment Partners LLC raised its holdings in Prologis by 9.8% during the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 93 shares during the last quarter. Finally, Carmel Capital Partners LLC boosted its position in Prologis by 2.6% during the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of several recent analyst reports. Scotiabank lowered their price objective on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. JPMorgan Chase & Co. cut 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. Truist Financial decreased their target price on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and cut their price target for the company from $124.00 to $123.00 in a report on Monday. Finally, Raymond James reaffirmed an “outperform” rating and issued a $125.00 target price (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.25.

Prologis Stock Down 0.0 %

Shares of NYSE:PLD opened at $106.62 on Wednesday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The stock has a market capitalization of $98.75 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 3.27 and a beta of 1.09. The stock has a fifty day simple moving average of $111.49 and a two-hundred day simple moving average of $118.63. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last announced 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 firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.30 earnings per share. On average, research analysts anticipate 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. Investors of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.60%. Prologis’s payout ratio is currently 116.01%.

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.