Novem Group acquired a new position in Prologis, Inc. (NYSE:PLD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 30,776 shares of the real estate investment trust's stock, valued at approximately $3,253,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Prologis during the fourth quarter valued at $26,000. Crowley Wealth Management Inc. purchased a new position in Prologis during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in Prologis during the fourth quarter valued at approximately $30,000. Promus Capital LLC acquired a new position in Prologis in the 4th quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC purchased a new stake in Prologis in the 4th quarter worth approximately $34,000. 93.50% of the stock is currently owned by institutional investors.
Prologis Trading Down 0.9%
Prologis stock traded down $0.97 during mid-day trading on Monday, hitting $104.13. The stock had a trading volume of 3,075,490 shares, compared to its average volume of 4,191,907. The stock has a 50-day simple moving average of $104.26 and a two-hundred day simple moving average of $110.82. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $96.62 billion, a PE ratio of 26.03, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57.
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 (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.
Prologis Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is currently 101.00%.
Wall Street Analyst Weigh In
A number of research analysts have commented on PLD shares. Morgan Stanley lowered their target price on Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Thursday. Truist Financial cut their target price on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Wolfe Research cut Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Finally, UBS Group increased their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $120.42.
Check Out Our Latest Stock Analysis on Prologis
Prologis 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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