Alley Investment Management Company LLC Increases Holdings in Prologis, Inc. (NYSE:PLD)

Alley Investment Management Company LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 102.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 108,335 shares of the real estate investment trust's stock after buying an additional 54,914 shares during the period. Prologis comprises approximately 1.5% of Alley Investment Management Company LLC's holdings, making the stock its 29th largest position. Alley Investment Management Company LLC's holdings in Prologis were worth $12,111,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLD. REAP Financial Group LLC grew its position in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 84 shares during the period. Phoenix Financial Ltd. grew its position in shares of Prologis by 1.0% during the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after acquiring an additional 86 shares during the period. CreativeOne Wealth LLC increased its stake in shares of Prologis by 1.7% in the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock worth $642,000 after purchasing an additional 100 shares in the last quarter. J.Safra Asset Management Corp increased its stake in shares of Prologis by 22.3% in the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 102 shares in the last quarter. Finally, Focus Financial Network Inc. raised its holdings in Prologis by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock worth $234,000 after purchasing an additional 104 shares during the period. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PLD. Scotiabank upped their price target on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Evercore ISI decreased their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Barclays lowered their price target on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Price Performance

PLD stock traded up $1.78 during mid-day trading on Wednesday, hitting $108.36. The company had a trading volume of 3,458,860 shares, compared to its average volume of 4,157,056. The company has a 50-day moving average price of $106.47 and a 200 day moving average price of $109.41. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a market capitalization of $100.55 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 2.67 and a beta of 1.23. 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 (NYSE:PLD - Get Free Report) last posted 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. Prologis had a return on equity of 6.45% and a net margin of 44.59%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. On average, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.73%. Prologis's dividend payout ratio is currently 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.