Kestra Private Wealth Services LLC Grows Stock Position in Prologis, Inc. (NYSE:PLD)

Kestra Private Wealth Services LLC raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 12.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,750 shares of the real estate investment trust's stock after buying an additional 6,428 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Prologis were worth $6,344,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Aviva PLC increased its position in Prologis by 36.6% during the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock valued at $73,481,000 after acquiring an additional 186,187 shares during the last quarter. Alley Investment Management Company LLC increased its position in Prologis by 102.8% during the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock valued at $12,111,000 after acquiring an additional 54,914 shares during the last quarter. Allstate Corp increased its position in Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after acquiring an additional 39,321 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in 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 acquiring an additional 29,170 shares during the last quarter. Finally, Truist Financial Corp increased its position in Prologis by 9.3% in the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after buying an additional 25,229 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Up 1.3%

Shares of Prologis stock traded up $1.41 during trading on Tuesday, reaching $109.27. The company's stock had a trading volume of 1,201,105 shares, compared to its average volume of 4,201,177. The company has a 50-day simple moving average of $107.49 and a two-hundred day simple moving average of $109.68. 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 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60. The company has a market cap of $101.39 billion, a price-to-earnings ratio of 29.61, a P/E/G ratio of 2.69 and a beta of 1.23.

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

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were issued a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.70%. Prologis's dividend payout ratio (DPR) is presently 109.49%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PLD shares. Robert W. Baird dropped their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley decreased their price objective on Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Evercore ISI decreased their price objective on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Royal Bank Of Canada decreased their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Finally, UBS Group raised their price target on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $120.47.

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.