7,288 Shares in Prologis, Inc. (NYSE:PLD) Purchased by Balentine LLC

Balentine LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,288 shares of the real estate investment trust's stock, valued at approximately $815,000.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted 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 lifted its position in 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 valued at $346,000 after purchasing an additional 1,402 shares during the period. Thrivent Financial for Lutherans lifted its position in Prologis by 2.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 274,322 shares of the real estate investment trust's stock valued at $29,025,000 after purchasing an additional 7,187 shares during the period. Sandy Spring Bank lifted its position in Prologis by 5.0% during the fourth quarter. Sandy Spring Bank now owns 21,462 shares of the real estate investment trust's stock valued at $2,269,000 after purchasing an additional 1,019 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in Prologis by 781.0% during the fourth quarter. Teacher Retirement System of Texas now owns 54,615 shares of the real estate investment trust's stock valued at $5,773,000 after purchasing an additional 48,416 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD traded up $0.26 during midday trading on Friday, reaching $106.69. 4,481,494 shares of the company's stock were exchanged, compared to its average volume of 4,214,268. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.19 and a quick ratio of 0.41. The stock has a market capitalization of $99.00 billion, a PE ratio of 28.91, a P/E/G ratio of 2.69 and a beta of 1.23. The business's 50-day moving average price is $107.49 and its 200 day moving average price is $109.64. 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 posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $1.34 earnings per share. The company's revenue was up 8.8% on a year-over-year basis. As a group, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.79%. Prologis's dividend payout ratio is currently 109.49%.

Analyst Ratings Changes

PLD has been the subject of a number of research reports. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Royal Bank Of Canada dropped their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. UBS Group increased their price objective on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. CJS Securities lowered their price objective on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Finally, Truist Financial lowered their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Two analysts have rated the stock with a sell rating, seven have issued 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 $120.47.

About Prologis

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.