Prologis, Inc. (NYSE:PLD) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 93.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,571 shares of the real estate investment trust's stock after purchasing an additional 14,312 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Prologis were worth $3,306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis in the fourth quarter valued at approximately $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis in the fourth quarter valued at $27,000. REAP Financial Group LLC raised its holdings 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 buying an additional 84 shares during the period. Olde Wealth Management LLC acquired a new position in Prologis during the 1st quarter worth about $43,000. Finally, Missouri Trust & Investment Co boosted 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 valued at $45,000 after acquiring an additional 149 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

NYSE:PLD traded down $1.71 during mid-day trading on Monday, hitting $106.31. 3,837,856 shares of the company's stock traded hands, compared to its average volume of 4,169,085. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41. The firm's 50 day simple moving average is $106.82 and its 200 day simple moving average is $109.48. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a market cap of $98.65 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 2.74 and a beta of 1.23.

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

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Tuesday, June 17th. Prologis's payout ratio is 101.00%.

Analyst Upgrades and Downgrades

PLD has been the topic of several recent research reports. Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Evercore ISI reduced their price objective on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Morgan Stanley lowered their target price on Prologis to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Robert W. Baird reduced their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada reduced their target price on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Prologis presently has an average rating of "Moderate Buy" and an average price target of $120.42.

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.