Valeo Financial Advisors LLC Buys 2,862,183 Shares of Prologis, Inc. (NYSE:PLD)

Valeo Financial Advisors LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 282.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,875,386 shares of the real estate investment trust's stock after purchasing an additional 2,862,183 shares during the quarter. Prologis makes up approximately 10.4% of Valeo Financial Advisors LLC's holdings, making the stock its 2nd largest holding. Valeo Financial Advisors LLC owned 0.42% of Prologis worth $433,229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Liberty One Investment Management LLC increased its position in Prologis by 10.4% during the 1st quarter. Liberty One Investment Management LLC now owns 43,537 shares of the real estate investment trust's stock worth $4,867,000 after purchasing an additional 4,094 shares in the last quarter. Brown Advisory Inc. increased its position in Prologis by 5.7% during the 1st quarter. Brown Advisory Inc. now owns 104,861 shares of the real estate investment trust's stock worth $11,722,000 after purchasing an additional 5,651 shares in the last quarter. Washington Trust Bank increased its position in Prologis by 2.6% during the 1st quarter. Washington Trust Bank now owns 48,427 shares of the real estate investment trust's stock worth $5,414,000 after purchasing an additional 1,231 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in Prologis by 61.8% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 22,990 shares of the real estate investment trust's stock worth $2,570,000 after purchasing an additional 8,778 shares in the last quarter. Finally, Financial Counselors Inc. increased its position in Prologis by 16.4% during the 1st quarter. Financial Counselors Inc. now owns 135,311 shares of the real estate investment trust's stock worth $15,126,000 after purchasing an additional 19,068 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PLD. Royal Bank Of Canada lowered their price target on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Truist Financial lowered their price target on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. CJS Securities lowered their price target on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Evercore ISI lowered their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Finally, Scotiabank lifted their price target on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.53.

Prologis Trading Up 0.6%

Shares of NYSE PLD traded up $0.64 during midday trading on Friday, hitting $109.05. The stock had a trading volume of 3,209,283 shares, compared to its average volume of 4,184,081. The company has a market capitalization of $101.19 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 2.75 and a beta of 1.23. Prologis, Inc. has a 1-year low of $85.35 and a 1-year 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. The company has a fifty day moving average price of $107.21 and a 200 day moving average price of $109.52.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. On average, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 3.70%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is presently 101.00%.

About Prologis

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.