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Ignite Planners LLC grew its stake in Prologis, Inc. (NYSE:PLD – Free Report) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,774 shares of the real estate investment trust’s stock after acquiring an additional 204 shares during the quarter. Ignite Planners LLC’s holdings in Prologis were worth $286,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Crestwood Advisors Group LLC raised its position in shares of Prologis by 23.5% in the 1st quarter. Crestwood Advisors Group LLC now owns 2,762 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 525 shares during the last quarter. GW&K Investment Management LLC boosted its position in Prologis by 24.4% during the first quarter. GW&K Investment Management LLC now owns 596 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 117 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Prologis by 1,572.3% during the first quarter. Los Angeles Capital Management LLC now owns 77,345 shares of the real estate investment trust’s stock worth $8,646,000 after purchasing an additional 72,720 shares in the last quarter. Wealth Alliance LLC lifted its position in shares of Prologis by 41.9% in the first quarter. Wealth Alliance LLC now owns 18,752 shares of the real estate investment trust’s stock valued at $2,096,000 after acquiring an additional 5,539 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of Prologis by 40.2% in the first quarter. Lindbrook Capital LLC now owns 4,166 shares of the real estate investment trust’s stock valued at $466,000 after acquiring an additional 1,195 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. CJS Securities cut their price target on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Truist Financial lowered their price target on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Citigroup decreased their target price on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday. Wolfe Research lowered Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. Finally, Robert W. Baird decreased their target price on Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.74.
Check Out Our Latest Research Report on Prologis
Prologis Trading Up 0.8%
Prologis stock opened at $110.04 on Thursday. The company has a 50 day moving average price of $107.48 and a 200 day moving average price of $109.70. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19. The firm has a market capitalization of $102.11 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 2.74 and a beta of 1.23.
Prologis (NYSE:PLD – Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. Research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.
Prologis Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis’s payout ratio is presently 109.49%.
Prologis 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.
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