Novem Group Acquires Shares of 30,776 Prologis, Inc. (NYSE:PLD)

Novem Group bought a new position in Prologis, Inc. (NYSE:PLD - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 30,776 shares of the real estate investment trust's stock, valued at approximately $3,253,000.

A number of other institutional investors also recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis in the 4th quarter worth $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis in the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in Prologis in the 4th quarter worth $30,000. Whipplewood Advisors LLC purchased a new stake in Prologis in the 4th quarter worth $34,000. Finally, Promus Capital LLC purchased a new stake in Prologis in the 4th quarter worth $34,000. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Truist Financial dropped their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Evercore ISI dropped their price objective on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Morgan Stanley dropped their price objective on shares of Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prologis has a consensus rating of "Moderate Buy" and an average target price of $120.42.

Prologis Price Performance

Shares of NYSE PLD traded down $0.97 during mid-day trading on Friday, hitting $104.13. 3,075,490 shares of the company's stock traded hands, compared to its average volume of 4,187,571. The company's 50-day moving average is $104.26 and its two-hundred day moving average is $110.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company has a market capitalization of $96.62 billion, a P/E ratio of 26.03, a PEG ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.88%. Prologis's payout ratio is 101.00%.

Prologis 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.