21,314 Shares in Prologis, Inc. (NYSE:PLD) Acquired by Sweeney & Michel LLC

Sweeney & Michel LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 21,314 shares of the real estate investment trust's stock, valued at approximately $2,383,000. Prologis accounts for about 1.0% of Sweeney & Michel LLC's holdings, making the stock its 23rd biggest position.

Several other large investors also recently made changes to their positions in PLD. Murphy & Mullick Capital Management Corp acquired a new stake in Prologis during the 4th quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis during the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Prologis during the fourth quarter valued at about $30,000. REAP Financial Group LLC increased its position in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 84 shares during the last quarter. Finally, Promus Capital LLC acquired a new position in shares of Prologis in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Trading Up 0.3%

Shares of NYSE:PLD traded up $0.32 during trading on Tuesday, hitting $109.07. 3,423,163 shares of the company's stock were exchanged, compared to its average volume of 4,161,573. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market cap of $101.21 billion, a P/E ratio of 27.27, a PEG ratio of 2.70 and a beta of 1.25. The firm has a 50-day moving average price of $103.89 and a two-hundred day moving average price of $110.53. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Equities analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is currently 101.00%.

Analyst Ratings Changes

Several research firms have recently weighed in on PLD. Raymond James reissued a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. Wall Street Zen raised Prologis from a "sell" rating to a "hold" rating in a report on Friday. Wells Fargo & Company lowered their price target on Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Truist Financial dropped their price target on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Prologis has a consensus rating of "Moderate Buy" and a consensus target price of $120.42.

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.