Cetera Investment Advisers Boosts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• Cetera Investment Advisers increased its holdings in Prologis, Inc. by 19.4% in Q1, accumulating a total of 221,717 shares valued at approximately $24.8 million.
• Various institutional investors, including REAP Financial Group and Cornerstone Planning Group, have also significantly increased their stakes in Prologis, indicating growing confidence in the company.
• The latest research reports show a consensus target price of $120.74 for Prologis, with ratings ranging from "sell" to "strong buy", reflecting mixed analyst sentiment.

Cetera Investment Advisers increased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 19.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 221,717 shares of the real estate investment trust's stock after buying an additional 36,040 shares during the period. Cetera Investment Advisers' holdings in Prologis were worth $24,786,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position 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 during the period. Valeo Financial Advisors LLC raised its holdings in shares of Prologis by 282.5% in the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock valued at $433,229,000 after buying an additional 2,862,183 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Prologis by 25.4% in the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after buying an additional 2,500,761 shares during the last quarter. FMR LLC increased its position 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 during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in Prologis by 83.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock worth $399,528,000 after purchasing an additional 1,723,129 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PLD. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Royal Bank Of Canada dropped their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Barclays dropped their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Truist Financial dropped their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Mizuho cut their price target on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $120.74.

Prologis Stock Performance

PLD stock traded down $0.60 during midday trading on Thursday, reaching $107.89. The stock had a trading volume of 913,777 shares, compared to its average volume of 4,590,547. The stock has a market cap of $100.12 billion, a PE ratio of 29.19, a P/E/G ratio of 2.75 and a beta of 1.23. The firm has a fifty day simple moving average of $107.51 and a two-hundred day simple moving average of $109.82. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57.

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

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were paid 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 3.74%. Prologis's dividend payout ratio is presently 109.49%.

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.