Lockerman Financial Group Inc. Buys 87 Shares of Prologis, Inc. (NYSE:PLD)

Lockerman Financial Group Inc. grew its stake in Prologis, Inc. (NYSE:PLD) by 2.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,402 shares of the real estate investment trust’s stock after buying an additional 87 shares during the quarter. Prologis accounts for 1.4% of Lockerman Financial Group Inc.’s holdings, making the stock its 20th biggest position. Lockerman Financial Group Inc.’s holdings in Prologis were worth $587,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PLD. RB Capital Management LLC increased its holdings in Prologis by 14.7% in the 1st quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 385 shares during the period. Blair William & Co. IL lifted its holdings in Prologis by 5.3% during the first quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock valued at $3,490,000 after purchasing an additional 1,092 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Prologis by 87.7% during the first quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock valued at $546,000 after buying an additional 1,580 shares during the period. Baird Financial Group Inc. grew its position in Prologis by 41.8% during the first quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock valued at $38,952,000 after acquiring an additional 71,112 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in Prologis by 38.8% in the first quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock worth $336,000 after acquiring an additional 581 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.0 %

NYSE:PLD opened at $130.18 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $130.56 and a 200 day moving average of $121.69. The firm has a market capitalization of $120.42 billion, a P/E ratio of 39.57, a P/E/G ratio of 2.58 and a beta of 1.00. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52.

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

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 18th will be paid a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date is Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.95%. Prologis’s dividend payout ratio is 116.72%.

Analysts Set New Price Targets

Several brokerages have issued reports on PLD. Robert W. Baird raised their target price on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Raymond James upped their price objective on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. Scotiabank raised their target price on Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a report on Friday, December 15th. Royal Bank of Canada lifted their price target on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Finally, TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $141.67.

About Prologis

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.