New York State Common Retirement Fund raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,209,026 shares of the real estate investment trust's stock after buying an additional 18,700 shares during the period. New York State Common Retirement Fund owned approximately 0.13% of Prologis worth $135,157,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Prologis during the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis in the 4th quarter worth approximately $27,000. REAP Financial Group LLC grew 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 period. Olde Wealth Management LLC purchased a new stake in Prologis in the 1st quarter worth approximately $43,000. Finally, Cornerstone Planning Group LLC grew its stake in Prologis by 63.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 152 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.
Prologis Stock Up 0.1%
Shares of PLD traded up $0.15 during midday trading on Monday, hitting $109.32. The company had a trading volume of 3,582,047 shares, compared to its average volume of 4,182,396. The company's 50 day moving average price is $107.21 and its 200 day moving average price is $109.58. The stock has a market cap of $101.44 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.77 and a beta of 1.23. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56.
Prologis (NYSE:PLD - Get Free Report) last released its earnings results 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 net margin of 44.59% and a return on equity of 6.45%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, equities research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.
Prologis Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.
Analysts Set New Price Targets
Several analysts have commented on PLD shares. BMO Capital Markets lowered their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Evercore ISI decreased their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, April 17th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Robert W. Baird decreased their price target on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, UBS Group lifted their price target on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.47.
View Our Latest Research Report on PLD
Prologis Company Profile
(
Free Report)
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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