Prologis, Inc. (NYSE:PLD) Shares Acquired by Burling Wealth Partners LLC

Burling Wealth Partners LLC increased its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 22.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,383 shares of the real estate investment trust's stock after acquiring an additional 3,141 shares during the quarter. Burling Wealth Partners LLC's holdings in Prologis were worth $1,943,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cohen & Steers Inc. lifted its stake in Prologis by 3.2% in the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after acquiring an additional 882,529 shares during the period. Geode Capital Management LLC lifted its stake in Prologis by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after acquiring an additional 610,251 shares during the period. FMR LLC raised its holdings in Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after purchasing an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Evercore ISI reduced their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Barclays reduced their target price on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Scotiabank upped their price objective on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Two 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Prologis has an average rating of "Moderate Buy" and an average price target of $120.47.

Prologis Stock Performance

NYSE:PLD traded up $0.26 during midday trading on Friday, hitting $106.69. The company's stock had a trading volume of 4,481,494 shares, compared to its average volume of 4,213,027. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The firm's 50 day moving average is $107.49 and its 200-day moving average is $109.61. 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 firm has a market cap of $99.00 billion, a P/E ratio of 28.91, a P/E/G ratio of 2.77 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business's revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $1.34 EPS. Equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share 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 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 3.79%. Prologis's payout ratio is 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.