Prologis, Inc. (NYSE:PLD) Shares Purchased by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC increased its holdings in Prologis, Inc. by 38.7% during Q1, now owning 9,728 shares worth approximately $1.09 million.
• Prologis reported $1.46 EPS for the last quarter, exceeding the consensus estimate of $1.41, with revenue of $2.03 billion, marking an 8.8% increase from the previous year.
• The company recently announced a quarterly dividend of $1.01 per share, which indicates an annualized dividend yield of 3.72%.

NorthRock Partners LLC increased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 38.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,728 shares of the real estate investment trust's stock after buying an additional 2,715 shares during the period. NorthRock Partners LLC's holdings in Prologis were worth $1,087,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PLD. REAP Financial Group LLC increased its stake in Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after buying an additional 84 shares during the period. Olde Wealth Management LLC purchased a new stake in Prologis during the 1st quarter worth approximately $43,000. Cornerstone Planning Group LLC increased its stake in Prologis by 63.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after buying an additional 152 shares during the period. Missouri Trust & Investment Co grew its holdings in Prologis by 59.6% during the 1st quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 149 shares in the last quarter. Finally, Bogart Wealth LLC grew its holdings in Prologis by 56.2% during the 1st quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 150 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PLD shares. Citigroup lowered their price target on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Robert W. Baird lowered their price target on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Mizuho lowered their price target on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Finally, CJS Securities lowered their price target on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Two equities research 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.74.

Prologis Stock Down 1.7%

Shares of Prologis stock traded down $1.86 during trading hours on Friday, hitting $104.92. The company had a trading volume of 6,122,816 shares, compared to its average volume of 4,380,032. The company's 50-day moving average is $107.57 and its two-hundred day moving average is $109.80. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.41. The company has a market cap of $97.37 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 2.68 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results 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. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the prior year, the business posted $1.34 EPS. The company's revenue for the quarter was up 8.8% on a year-over-year basis. Analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors 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 dividend on an annualized basis and a yield of 3.9%. Prologis's dividend payout ratio is currently 109.49%.

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.