HTLF Bank Makes New Investment in Prologis, Inc. (NYSE:PLD)

HTLF Bank bought a new position in shares of Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,824 shares of the real estate investment trust’s stock, valued at approximately $2,776,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Colton Groome Financial Advisors LLC grew its holdings in shares of Prologis by 23.2% during the 4th quarter. Colton Groome Financial Advisors LLC now owns 10,910 shares of the real estate investment trust’s stock worth $1,454,000 after acquiring an additional 2,055 shares during the period. Fidelis Capital Partners LLC grew its holdings in shares of Prologis by 38.3% during the 4th quarter. Fidelis Capital Partners LLC now owns 8,290 shares of the real estate investment trust’s stock worth $1,105,000 after acquiring an additional 2,297 shares during the period. Western Wealth Management LLC grew its holdings in shares of Prologis by 5.9% during the 4th quarter. Western Wealth Management LLC now owns 14,478 shares of the real estate investment trust’s stock worth $1,930,000 after acquiring an additional 803 shares during the period. Xponance Inc. grew its stake in shares of Prologis by 6.4% in the 4th quarter. Xponance Inc. now owns 136,289 shares of the real estate investment trust’s stock worth $18,167,000 after buying an additional 8,138 shares during the last quarter. Finally, Cambridge Trust Co. grew its stake in shares of Prologis by 1.0% in the 4th quarter. Cambridge Trust Co. now owns 211,074 shares of the real estate investment trust’s stock worth $28,136,000 after buying an additional 2,060 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Morgan Stanley upped their price target on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. UBS Group cut their price target on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday. Royal Bank of Canada upped their price objective on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, Barclays lowered their price objective on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Prologis Price Performance

PLD stock traded down $1.42 during trading on Friday, reaching $103.27. The company’s stock had a trading volume of 2,250,157 shares, compared to its average volume of 3,376,661. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $95.53 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company’s fifty day moving average is $128.45 and its 200-day moving average is $122.07.

Prologis (NYSE:PLD) last issued its quarterly 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). The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a return on equity of 5.49% and a net margin of 38.73%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 EPS. On average, research analysts expect that Prologis, Inc. will post 5.47 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently disclosed 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 positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.72%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.