Perpetual Ltd boosted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 22.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353,835 shares of the real estate investment trust's stock after purchasing an additional 65,035 shares during the period. Perpetual Ltd's holdings in Prologis were worth $39,555,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after purchasing an additional 15,078 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Prologis by 29.7% in the fourth quarter. IFP Advisors Inc now owns 4,624 shares of the real estate investment trust's stock worth $489,000 after acquiring an additional 1,058 shares during the last quarter. Crestwood Advisors Group LLC lifted its position in shares of Prologis by 28.9% in the fourth quarter. Crestwood Advisors Group LLC now owns 2,237 shares of the real estate investment trust's stock valued at $236,000 after acquiring an additional 502 shares in the last quarter. NewEdge Wealth LLC lifted its position in shares of Prologis by 5.1% in the fourth quarter. NewEdge Wealth LLC now owns 30,955 shares of the real estate investment trust's stock valued at $3,272,000 after acquiring an additional 1,489 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Prologis during the fourth quarter valued at $34,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
Prologis Stock Up 1.1%
Shares of PLD traded up $1.19 during midday trading on Friday, reaching $105.58. 5,732,894 shares of the company were exchanged, compared to its average volume of 4,131,212. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The stock has a 50-day moving average price of $106.14 and a 200-day moving average price of $109.55. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. The company has a market cap of $97.97 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 2.66 and a beta of 1.25.
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 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 firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.
Prologis Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.83%. Prologis's dividend payout ratio is presently 101.00%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Evercore ISI reduced their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company reduced their price objective on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. BMO Capital Markets lowered their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Truist Financial cut 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. Finally, Robert W. Baird decreased their price objective on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and a consensus target price of $120.42.
Get Our Latest Research Report on PLD
Prologis Profile
(
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.
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