Envestnet Asset Management Inc. Buys 839,174 Shares of Prologis, Inc. (NYSE:PLD)

Envestnet Asset Management Inc. lifted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 31.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,466,322 shares of the real estate investment trust's stock after purchasing an additional 839,174 shares during the quarter. Envestnet Asset Management Inc. owned 0.37% of Prologis worth $387,500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis during the 4th quarter valued at $26,000. Crowley Wealth Management Inc. bought a new position in Prologis in the 4th quarter worth about $27,000. REAP Financial Group LLC increased its stake in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 84 shares during the last quarter. Olde Wealth Management LLC bought a new position in Prologis in the 1st quarter worth about $43,000. Finally, Missouri Trust & Investment Co increased its stake in Prologis by 59.6% in the 1st quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 149 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 1.6%

NYSE PLD opened at $106.31 on Tuesday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a 50 day simple moving average of $106.87 and a two-hundred day simple moving average of $109.50. The stock has a market cap of $98.65 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 2.74 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.45% and a net margin of 44.59%. The business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. On average, analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is currently 101.00%.

Analysts Set New Price Targets

PLD has been the topic of a number of research analyst reports. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. BMO Capital Markets decreased their target price on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Scotiabank upped their target price on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research note on Monday, May 12th. Morgan Stanley decreased their target price on Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, CJS Securities cut their price objective on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.42.

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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