Fiduciary Alliance LLC Purchases Shares of 2,761 Prologis, Inc. (NYSE:PLD)

Fiduciary Alliance LLC acquired a new stake in Prologis, Inc. (NYSE:PLD - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,761 shares of the real estate investment trust's stock, valued at approximately $309,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Prologis in the fourth quarter worth $951,263,000. Northern Trust Corp grew its stake in Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. Capital Research Global Investors increased its position in Prologis by 25.4% in the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after purchasing an additional 2,500,761 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Prologis during the 4th quarter worth about $254,876,000. Finally, FMR LLC lifted its holdings in shares of Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after buying an additional 1,875,978 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PLD shares. Royal Bank of Canada cut their price objective on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Wells Fargo & Company dropped their price target on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Truist Financial reduced their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. BMO Capital Markets lowered their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley reduced their price target on Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $120.42.

Prologis Stock Performance

PLD traded up $1.38 on Friday, hitting $109.20. 1,781,324 shares of the stock traded hands, compared to its average volume of 4,676,097. The business has a fifty day moving average price of $103.73 and a two-hundred day moving average price of $110.46. 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 capitalization of $101.32 billion, a PE ratio of 27.30, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

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

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be paid 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 of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio is 101.00%.

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.