First Citizens Bank & Trust Co. Buys 154 Shares of Prologis, Inc. (NYSE:PLD)

First Citizens Bank & Trust Co. raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,010 shares of the real estate investment trust’s stock after acquiring an additional 154 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Prologis were worth $212,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Sunbelt Securities Inc. increased its stake in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the period. Dunhill Financial LLC increased its position in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the period. Hara Capital LLC acquired a new position in shares of Prologis in the third quarter valued at $48,000. Coastline Trust Co bought a new position in Prologis in the third quarter worth $52,000. Finally, Fortitude Family Office LLC boosted its stake in Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PLD. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Truist Financial upped their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $128.72.

Prologis Price Performance

PLD stock opened at $120.23 on Wednesday. The stock has a market cap of $111.35 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. The stock has a 50-day moving average price of $110.63 and a two-hundred day moving average price of $118.41. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.19%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

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.