Liberty Wealth Management LLC Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• Liberty Wealth Management LLC has increased its stake in Prologis, Inc. by 233.5%, now owning 6,589 shares valued at approximately $737,000.
• Prologis reported $1.46 earnings per share for its latest quarter, exceeding expectations and marking an 8.8% increase in revenue compared to the previous year.
• The company has declared a quarterly dividend of $1.01 per share, resulting in an annualized dividend yield of 3.9%.

Liberty Wealth Management LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 233.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,589 shares of the real estate investment trust's stock after acquiring an additional 4,613 shares during the period. Liberty Wealth Management LLC's holdings in Prologis were worth $737,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares in the last quarter. World Investment Advisors increased its stake in Prologis by 41.9% during the 4th quarter. World Investment Advisors now owns 11,115 shares of the real estate investment trust's stock valued at $1,175,000 after purchasing an additional 3,284 shares in the last quarter. Prudential PLC increased its stake in Prologis by 21.2% during the 4th quarter. Prudential PLC now owns 23,014 shares of the real estate investment trust's stock valued at $2,433,000 after purchasing an additional 4,019 shares in the last quarter. Perennial Investment Advisors LLC increased its stake in Prologis by 8.2% during the 4th quarter. Perennial Investment Advisors LLC now owns 2,649 shares of the real estate investment trust's stock valued at $280,000 after purchasing an additional 200 shares in the last quarter. Finally, Wedbush Securities Inc. increased its stake in Prologis by 12.8% during the 4th quarter. Wedbush Securities Inc. now owns 11,433 shares of the real estate investment trust's stock valued at $1,208,000 after purchasing an additional 1,293 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

PLD opened at $104.92 on Monday. 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 cap of $97.37 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.63 and a beta of 1.21. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The firm's fifty day simple moving average is $107.57 and its two-hundred day simple moving average is $109.81.

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

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were paid 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 dividend payout ratio (DPR) is currently 109.49%.

Analyst Ratings Changes

PLD has been the topic of a number of research reports. Citigroup cut their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. CJS Securities cut their price objective on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Scotiabank increased their price objective on shares of 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 cut their price objective on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, BMO Capital Markets cut their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Prologis has an average rating of "Moderate Buy" and an average target price of $120.74.

Prologis Company 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.

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