LPL Financial LLC Has $113.02 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• LPL Financial LLC increased its stake in Prologis, Inc. by 6.3% during the first quarter, now owning over 1 million shares valued at approximately $113 million.
• Prologis recently announced a quarterly dividend of $1.01, which results in an annualized dividend yield of 3.68%.
• Research analysts have varying views on Prologis's stock, with an average rating of "Moderate Buy" and a consensus price target of $120.74.

LPL Financial LLC grew its position in Prologis, Inc. (NYSE:PLD - Free Report) by 6.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011,020 shares of the real estate investment trust's stock after purchasing an additional 59,561 shares during the period. LPL Financial LLC owned approximately 0.11% of Prologis worth $113,022,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PLD. REAP Financial Group LLC boosted its position in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 84 shares during the last quarter. Olde Wealth Management LLC acquired a new position in Prologis during the first quarter valued at approximately $43,000. Cornerstone Planning Group LLC boosted its position in Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 152 shares during the last quarter. Missouri Trust & Investment Co raised its stake in Prologis by 59.6% in the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 149 shares during the period. Finally, Bogart Wealth LLC raised its stake in Prologis by 56.2% in the first quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock valued at $47,000 after buying an additional 150 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 1.4%

NYSE:PLD traded down $1.46 during trading hours on Friday, hitting $105.33. 382,580 shares of the company were exchanged, compared to its average volume of 4,583,255. The stock has a market capitalization of $97.73 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 2.72 and a beta of 1.23. The company has a current ratio of 0.19, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company has a fifty day simple moving average of $107.55 and a 200 day simple moving average of $109.83.

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

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.8%. Prologis's dividend payout ratio (DPR) is 109.49%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Scotiabank upped their target price on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research report on Monday, May 12th. Mizuho decreased their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. UBS Group upped their target price on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.