Avalon Trust Co Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• Avalon Trust Co significantly increased its stake in Prologis, Inc. by 371.6%, owning 3,424 shares valued at approximately $383,000 as of the last reporting period.
• Several large investors, including Brighton Jones LLC and Prudential PLC, have also increased their holdings in Prologis, contributing to the fact that 93.50% of the company’s stock is owned by institutional investors.
• Prologis reported a quarterly earnings result of $1.46 EPS, exceeding analysts’ expectations, while the company announced a quarterly dividend of $1.01 per share, reflecting a dividend yield of 3.9%.

Avalon Trust Co raised its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 371.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,424 shares of the real estate investment trust's stock after purchasing an additional 2,698 shares during the period. Avalon Trust Co's holdings in Prologis were worth $383,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Prologis by 629.0% in 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. World Investment Advisors increased its holdings in shares of Prologis by 41.9% in the fourth quarter. World Investment Advisors now owns 11,115 shares of the real estate investment trust's stock worth $1,175,000 after buying an additional 3,284 shares during the period. Arete Wealth Advisors LLC increased its holdings in shares of Prologis by 10.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 6,401 shares of the real estate investment trust's stock worth $676,000 after buying an additional 600 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Prologis by 6.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,871 shares of the real estate investment trust's stock worth $198,000 after buying an additional 113 shares during the period. Finally, Prudential PLC increased its holdings in shares of Prologis by 21.2% in the fourth quarter. Prudential PLC now owns 23,014 shares of the real estate investment trust's stock worth $2,433,000 after buying an additional 4,019 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLD. Mizuho reduced their price target on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. UBS Group boosted their price target on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. BMO Capital Markets reduced their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Royal Bank Of Canada reduced their price target on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.74.

Prologis Stock Performance

Shares of PLD opened at $104.92 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The business's 50 day moving average price is $107.57 and its 200-day moving average price is $109.82. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The stock has a market cap of $97.37 billion, a P/E ratio of 28.43, a P/E/G ratio of 2.63 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the previous year, the firm posted $1.34 EPS. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.9%. Prologis's dividend payout ratio is 109.49%.

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.

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