Turtle Creek Wealth Advisors LLC Invests $2.38 Million in Prologis, Inc. (NYSE:PLD)

Turtle Creek Wealth Advisors LLC bought a new position in Prologis, Inc. (NYSE:PLD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,296 shares of the real estate investment trust's stock, valued at approximately $2,381,000.

Other hedge funds also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new position in Prologis in the 4th quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new position in Prologis in the 4th quarter worth about $27,000. REAP Financial Group LLC increased its position in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares during the last quarter. Olde Wealth Management LLC bought a new stake in shares of Prologis during the 1st quarter worth about $43,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Prologis by 63.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 152 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of PLD stock traded down $0.47 during mid-day trading on Tuesday, reaching $108.88. The stock had a trading volume of 1,637,312 shares, compared to its average volume of 4,172,662. The firm's 50 day simple moving average is $107.29 and its 200 day simple moving average is $109.60. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The firm has a market cap of $101.03 billion, a PE ratio of 27.24, a P/E/G ratio of 2.77 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.45% and a net margin of 44.59%. The business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. On average, analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were issued a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.71%. Prologis's payout ratio is presently 101.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PLD. Robert W. Baird decreased their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. BMO Capital Markets decreased their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. CJS Securities decreased their price target on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an "overweight" rating in a research note on Sunday. Finally, Scotiabank upped their price target on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $120.47.

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.