Cornerstone Advisors LLC Has $1.46 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• Cornerstone Advisors LLC increased its stake in Prologis, Inc. by 63.8%, owning 13,100 shares valued at $1.46 million after purchasing an additional 5,100 shares.
• Prologis reported a quarterly EPS of $1.46, beating analysts' expectations by $0.05, with revenue remaining stable at $2.03 billion year-over-year.
• The company declared a quarterly dividend of $1.01 per share, resulting in an annualized dividend of $4.04 and a yield of 3.8%.

Cornerstone Advisors LLC grew its position in Prologis, Inc. (NYSE:PLD - Free Report) by 63.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,100 shares of the real estate investment trust's stock after purchasing an additional 5,100 shares during the period. Cornerstone Advisors LLC's holdings in Prologis were worth $1,464,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Strategy Asset Managers LLC lifted its position in Prologis by 12.3% in the 1st quarter. Strategy Asset Managers LLC now owns 3,316 shares of the real estate investment trust's stock valued at $371,000 after acquiring an additional 362 shares in the last quarter. Exencial Wealth Advisors LLC lifted its position in Prologis by 5.1% in the 1st quarter. Exencial Wealth Advisors LLC now owns 2,210 shares of the real estate investment trust's stock valued at $247,000 after acquiring an additional 107 shares in the last quarter. Vanguard Group Inc. lifted its position in Prologis by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock valued at $13,564,533,000 after acquiring an additional 869,310 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Prologis by 7.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust's stock valued at $870,871,000 after acquiring an additional 507,367 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its position in Prologis by 5.0% in the 1st quarter. Centersquare Investment Management LLC now owns 6,708,300 shares of the real estate investment trust's stock valued at $749,921,000 after acquiring an additional 317,267 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 1.7%

Shares of PLD opened at $107.01 on Wednesday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The firm has a market cap of $99.31 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.21. The firm's 50-day simple moving average is $107.59 and its 200 day simple moving average is $109.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The business 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%. Prologis's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 EPS. On average, analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio is 109.49%.

Analyst Ratings Changes

PLD has been the topic of several research reports. Truist Financial cut their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Robert W. Baird cut their price target on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley cut their price target on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Royal Bank Of Canada cut their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and an average price target of $120.74.

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.

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