Prologis, Inc. (NYSE:PLD) Shares Bought by Pathway Financial Advisers LLC

Key Points

• Pathway Financial Advisers LLC increased its holdings in Prologis, Inc. by 1,740.4% in the 1st quarter, owning 13,288 shares worth $1,485,000 after purchasing an additional 12,566 shares.
• Institutional investors collectively own 93.50% of Prologis, with several firms, including Aviva PLC and First Citizens Bank & Trust Co., significantly increasing their stakes during recent quarters.
• Prologis announced a quarterly dividend of $1.01 per share, yielding 3.9% annually, and reported an earnings per share (EPS) of $1.46 for the last quarter, exceeding analyst expectations.

Pathway Financial Advisers LLC increased its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 1,740.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,288 shares of the real estate investment trust's stock after buying an additional 12,566 shares during the quarter. Pathway Financial Advisers LLC's holdings in Prologis were worth $1,485,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aviva PLC increased its holdings in Prologis by 36.6% in the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock worth $73,481,000 after buying an additional 186,187 shares during the period. Alley Investment Management Company LLC increased its holdings in Prologis by 102.8% in the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after buying an additional 54,914 shares during the period. First Citizens Bank & Trust Co. increased its holdings in Prologis by 1,451.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock worth $3,486,000 after buying an additional 29,170 shares during the period. Truist Financial Corp increased its holdings in Prologis by 9.3% in the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after buying an additional 25,229 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Prologis by 2.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock worth $33,249,000 after buying an additional 6,350 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada cut their price target 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. Truist Financial dropped their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. BMO Capital Markets dropped their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Finally, Evercore ISI dropped their price objective on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Two equities 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.74.

Prologis Stock Down 1.7%

NYSE PLD opened at $104.92 on Friday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a quick ratio of 0.41, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The business's fifty day simple moving average is $107.57 and its 200-day simple moving average is $109.80. The firm has a market cap of $97.37 billion, a PE ratio of 28.43, a P/E/G ratio of 2.68 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 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 business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. The company's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The firm 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. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is presently 109.49%.

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.

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