Fifth Third Bancorp Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Fifth Third Bancorp reduced its position in shares of Prologis, Inc. (NYSE:PLDFree Report) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,797 shares of the real estate investment trust’s stock after selling 11,026 shares during the period. Fifth Third Bancorp’s holdings in Prologis were worth $18,768,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Thompson Investment Management Inc. purchased a new stake in shares of Prologis during the 4th quarter worth $28,000. VitalStone Financial LLC purchased a new stake in Prologis in the second quarter valued at $27,000. DHJJ Financial Advisors Ltd. purchased a new stake in Prologis in the third quarter valued at $29,000. FinTrust Capital Advisors LLC lifted its position in Prologis by 966.7% in the third 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 last quarter. Finally, Salem Investment Counselors Inc. purchased a new stake in Prologis in the fourth quarter valued at $37,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Raymond James boosted their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. Royal Bank of Canada boosted their price target on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, December 14th. Evercore ISI restated an “in-line” rating and issued a $136.00 price objective on shares of Prologis in a research note on Monday, March 18th. Finally, TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.67.

Read Our Latest Stock Report on Prologis

Prologis Stock Up 1.1 %

PLD stock opened at $130.22 on Monday. The company has a market cap of $120.46 billion, a P/E ratio of 39.58, a P/E/G ratio of 2.60 and a beta of 1.00. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company’s 50-day moving average price is $130.68 and its 200 day moving average price is $121.80. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50.

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

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 2.95%. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is currently 116.72%.

Prologis Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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