Forte Capital LLC ADV Invests $1.94 Million in Prologis, Inc. (NYSE:PLD)

Forte Capital LLC ADV acquired a new stake in Prologis, Inc. (NYSE:PLD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,346 shares of the real estate investment trust's stock, valued at approximately $1,939,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Prologis during the 4th quarter worth approximately $951,263,000. Northern Trust Corp grew its holdings in shares of Prologis by 54.6% during 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 buying an additional 4,893,284 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Prologis by 282.5% during the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock worth $433,229,000 after buying an additional 2,862,183 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after buying an additional 2,500,761 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Prologis by 11.7% during 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 buying an additional 1,875,978 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Up 0.2%

Shares of PLD stock traded up $0.26 during mid-day trading on Friday, reaching $106.69. The company's stock had a trading volume of 4,481,494 shares, compared to its average volume of 4,213,027. The company's 50 day simple moving average is $107.49 and its 200-day simple moving average is $109.61. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a quick ratio of 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $99.00 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last issued its 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. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $1.34 EPS. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced 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 was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.79%. Prologis's dividend payout ratio is presently 101.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PLD shares. Scotiabank lifted their price target on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday, May 12th. Mizuho decreased their target price on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Morgan Stanley lowered their target price on shares of Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Finally, Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $120.47.

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.