Code Waechter LLC Takes $357,000 Position in Prologis, Inc. (NYSE:PLD)

Code Waechter LLC acquired a new stake in Prologis, Inc. (NYSE:PLD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,196 shares of the real estate investment trust's stock, valued at approximately $357,000.

Several other large investors also recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in shares of Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after buying an additional 15,078 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Prologis by 74.8% during the fourth quarter. Proficio Capital Partners LLC now owns 3,277 shares of the real estate investment trust's stock worth $346,000 after buying an additional 1,402 shares during the period. Simplicity Wealth LLC boosted its stake in shares of Prologis by 7.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,995 shares of the real estate investment trust's stock worth $211,000 after buying an additional 131 shares during the period. Independent Advisor Alliance boosted its stake in shares of Prologis by 8.3% during the fourth quarter. Independent Advisor Alliance now owns 16,299 shares of the real estate investment trust's stock worth $1,723,000 after buying an additional 1,245 shares during the period. Finally, HighTower Advisors LLC boosted its stake in shares of Prologis by 5.7% during the fourth quarter. HighTower Advisors LLC now owns 179,534 shares of the real estate investment trust's stock worth $18,977,000 after buying an additional 9,606 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Evercore ISI decreased their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, April 17th. BMO Capital Markets cut their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Mizuho cut their price target on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wells Fargo & Company cut their price target on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, CJS Securities cut their price target on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Prologis currently has an average rating of "Moderate Buy" and a consensus target price of $119.53.

Prologis Price Performance

Prologis stock traded up $2.04 during mid-day trading on Thursday, reaching $108.43. The company had a trading volume of 4,764,950 shares, compared to its average volume of 4,188,226. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market capitalization of $100.62 billion, a P/E ratio of 27.11, a P/E/G ratio of 2.70 and a beta of 1.23. The stock's 50-day simple moving average is $107.04 and its 200-day simple moving average is $109.46.

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, beating analysts' consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. On average, equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.73%. Prologis's dividend payout ratio is presently 101.00%.

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.