Endeavor Private Wealth Inc. Purchases New Shares in Prologis, Inc. (NYSE:PLD)

Key Points

• Endeavor Private Wealth Inc. has acquired a new stake in Prologis, Inc., purchasing 5,243 shares valued at approximately $586,000 during the 1st quarter.
• Prologis recently reported $1.46 EPS for the quarter, exceeding estimates by $0.05, with revenue of $2.03 billion, marking an 8.8% year-over-year increase.
• The company has announced a quarterly dividend of $1.01 per share, which reflects a 3.9% yield and a payout ratio of 109.49%.

Endeavor Private Wealth Inc. acquired a new position in Prologis, Inc. (NYSE:PLD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,243 shares of the real estate investment trust's stock, valued at approximately $586,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aviva PLC increased its holdings in Prologis by 36.6% in the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock worth $73,481,000 after buying an additional 186,187 shares in the last quarter. Alley Investment Management Company LLC grew its stake in shares of Prologis by 102.8% in the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after acquiring an additional 54,914 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Prologis by 1,451.2% during the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after purchasing an additional 29,170 shares during the last quarter. Truist Financial Corp lifted its position in Prologis by 9.3% during the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock valued at $33,232,000 after purchasing an additional 25,229 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Prologis by 2.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock worth $33,249,000 after purchasing an additional 6,350 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PLD shares. BMO Capital Markets lowered their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Mizuho lowered their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. CJS Securities dropped their target price on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Royal Bank Of Canada reduced 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 report on Tuesday, April 29th. Finally, 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 note on Tuesday, July 8th. Two equities research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $120.74.

Prologis Price Performance

NYSE PLD traded down $1.86 during trading hours on Friday, reaching $104.92. The company's stock had a trading volume of 6,122,816 shares, compared to its average volume of 4,686,173. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $97.37 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.63 and a beta of 1.21. The firm's 50-day moving average price is $107.57 and its 200-day moving average price is $109.81.

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

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's payout ratio is 109.49%.

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.