OLD Second National Bank of Aurora Raises Stock Position in Prologis, Inc. (NYSE:PLD)

OLD Second National Bank of Aurora lifted its position in Prologis, Inc. (NYSE:PLD) by 1.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,973 shares of the real estate investment trust’s stock after buying an additional 118 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Prologis were worth $1,329,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PLD. Thompson Investment Management Inc. acquired a new stake in Prologis in the 4th quarter worth approximately $28,000. FinTrust Capital Advisors LLC lifted its stake in Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 232 shares during the period. Fairfield Bush & CO. acquired a new stake in Prologis during the 2nd quarter valued at approximately $35,000. Qube Research & Technologies Ltd lifted its stake in Prologis by 102.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 318 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 13,518 shares during the period. Finally, Salem Investment Counselors Inc. acquired a new stake in Prologis during the 4th quarter valued at approximately $37,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of Prologis stock traded down $1.01 during trading hours on Thursday, reaching $105.48. 2,045,675 shares of the company’s stock were exchanged, compared to its average volume of 3,335,180. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a market capitalization of $97.57 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.00. The business has a fifty day moving average of $128.99 and a two-hundred day moving average of $122.19. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) 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 business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company earned $1.24 EPS. Prologis’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts predict that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.64%. Prologis’s payout ratio is presently 116.72%.

Analyst Ratings Changes

Several analysts have commented on PLD shares. Barclays decreased their price objective on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday. Robert W. Baird lifted their target price on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a report on Tuesday, January 23rd. Morgan Stanley lifted their target price on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Evercore ISI reaffirmed an “in-line” rating and set a $136.00 target price on shares of Prologis in a report on Monday, March 18th. Finally, Mizuho reaffirmed a “neutral” rating and set a $130.00 target price on shares of Prologis in a report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and an average price target of $141.27.

Prologis Profile

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.