Prologis, Inc. (NYSE:PLD) Shares Acquired by Wealth Alliance LLC

Wealth Alliance LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 41.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,752 shares of the real estate investment trust's stock after buying an additional 5,539 shares during the quarter. Wealth Alliance LLC's holdings in Prologis were worth $2,096,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. REAP Financial Group LLC boosted its holdings in 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 purchasing an additional 84 shares in the last quarter. Phoenix Financial Ltd. boosted its holdings in Prologis by 1.0% in the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after purchasing an additional 86 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in Prologis by 1.7% in the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock valued at $642,000 after purchasing an additional 100 shares in the last quarter. Focus Financial Network Inc. boosted its holdings in Prologis by 5.2% in the first quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock valued at $234,000 after purchasing an additional 104 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in Prologis by 9.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,346 shares of the real estate investment trust's stock valued at $142,000 after purchasing an additional 113 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLD has been the subject of several research analyst reports. Truist Financial decreased their price objective 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 cut their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. Finally, UBS Group raised their price target on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Prologis currently has an average rating of "Moderate Buy" and a consensus target price of $120.47.

Prologis Stock Performance

Shares of NYSE:PLD opened at $106.69 on Friday. The company has a market cap of $99.00 billion, a P/E ratio of 28.91, a PEG ratio of 2.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The business's 50-day simple moving average is $107.49 and its 200 day simple moving average is $109.64.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $1.34 EPS. Prologis's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.79%. Prologis's dividend payout ratio is currently 109.49%.

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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.