Prologis, Inc. (NYSE:PLD) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 46.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,504 shares of the real estate investment trust's stock after purchasing an additional 28,817 shares during the period. Park Avenue Securities LLC's holdings in Prologis were worth $10,229,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis during the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis during the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the 4th quarter worth about $30,000. REAP Financial Group LLC raised its stake in shares of Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 84 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in Prologis in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on PLD. Wall Street Zen raised Prologis from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. BMO Capital Markets decreased their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Robert W. Baird dropped their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Royal Bank of Canada lowered their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Finally, Evercore ISI cut their target price on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Stock Performance

PLD stock traded down $1.03 during mid-day trading on Wednesday, reaching $108.46. The company had a trading volume of 3,361,285 shares, compared to its average volume of 4,136,213. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The stock has a market capitalization of $100.64 billion, a P/E ratio of 27.12, a P/E/G ratio of 2.70 and a beta of 1.25. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The stock's 50-day simple moving average is $103.77 and its two-hundred day simple moving average is $110.31.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The business 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%. Research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.72%. The ex-dividend date is Tuesday, June 17th. Prologis's payout ratio is currently 101.00%.

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.