Ballentine Partners LLC Has $1.79 Million Position in Prologis, Inc. (NYSE:PLD)

Ballentine Partners LLC raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 17.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,975 shares of the real estate investment trust's stock after purchasing an additional 2,374 shares during the period. Ballentine Partners LLC's holdings in Prologis were worth $1,786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis in the fourth quarter valued at about $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis in the fourth quarter valued at about $27,000. REAP Financial Group LLC boosted its position in shares of Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 84 shares during the period. Olde Wealth Management LLC bought a new stake in shares of Prologis in the first quarter valued at about $43,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 152 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of PLD stock traded up $1.45 on Wednesday, reaching $110.07. The company had a trading volume of 12,177,867 shares, compared to its average volume of 4,222,395. The stock has a market capitalization of $102.14 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 2.77 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, Inc. has a one year low of $85.35 and a one year high of $132.57. The business's 50-day moving average is $107.37 and its 200 day moving average is $109.60.

Prologis (NYSE:PLD - Get Free Report) last posted its 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. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 earnings per share. Equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio is currently 101.00%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. CJS Securities reduced their target price on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Royal Bank Of Canada cut their price objective on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. UBS Group upped 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. Finally, Truist Financial cut 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 issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and a consensus target price of $120.47.

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.