Kentucky Retirement Systems Insurance Trust Fund increased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 52.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,880 shares of the real estate investment trust's stock after buying an additional 9,219 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Prologis were worth $3,005,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis in the fourth quarter valued at about $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Prologis in the fourth quarter valued at about $30,000. REAP Financial Group LLC grew its stake in shares of Prologis by 40.0% in the fourth 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 in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Prologis in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.
Prologis Trading Up 0.6%
NYSE:PLD opened at $105.67 on Friday. 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 business's 50 day moving average is $105.62 and its two-hundred day moving average is $109.73. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a market cap of $98.05 billion, a PE ratio of 26.42, a P/E/G ratio of 2.68 and a beta of 1.25.
Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.45% and a net margin of 44.59%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. On average, analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.
Prologis Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on PLD. 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. Evercore ISI reduced 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. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Mizuho reduced their price target on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two equities 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $120.42.
Get Our Latest Analysis on Prologis
About Prologis
(
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.
See Also
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