First County Bank CT Buys Shares of 2,215 Prologis, Inc. (NYSE:PLD)

First County Bank CT purchased a new stake in Prologis, Inc. (NYSE:PLD) in the 3rd quarter, Holdings Channel reports. The fund purchased 2,215 shares of the real estate investment trust’s stock, valued at approximately $280,000.

Several other hedge funds have also modified their holdings of the business. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis in the second quarter worth $27,000. American Capital Advisory LLC bought a new position in Prologis during the 2nd quarter worth approximately $26,000. Central Valley Advisors LLC bought a new position in Prologis during the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. lifted its holdings in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Prologis in the 2nd quarter worth approximately $31,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLD. JPMorgan Chase & Co. lowered their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Morgan Stanley raised their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Evercore ISI lifted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Scotiabank dropped their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Trading Up 1.6 %

PLD opened at $115.76 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $119.75 and a two-hundred day moving average price of $118.32. The company has a market cap of $107.21 billion, a P/E ratio of 34.97, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52.

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

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.32%. Prologis’s dividend payout ratio (DPR) is presently 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.