Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,754 shares of the real estate investment trust's stock after buying an additional 4,544 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Prologis were worth $5,365,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Aviva PLC raised its position in Prologis by 36.6% during 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock worth $82,907,000 after purchasing an additional 179,880 shares in the last quarter. Allstate Corp raised its holdings in Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock worth $7,877,000 after purchasing an additional 39,321 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after purchasing an additional 334,907 shares during the period. Finally, Banco Santander S.A. boosted its holdings in Prologis by 88.0% in the 4th quarter. Banco Santander S.A. now owns 4,683 shares of the real estate investment trust's stock valued at $495,000 after purchasing an additional 2,192 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. BMO Capital Markets cut their target price on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Barclays dropped their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Truist Financial lowered their price target 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. Finally, Mizuho cut their price target on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Price Performance

Shares of PLD traded down $0.51 during mid-day trading on Wednesday, reaching $108.51. 2,436,310 shares of the company's stock were exchanged, compared to its average volume of 4,158,282. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. 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 $100.69 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 2.70 and a beta of 1.25. The company has a 50-day simple moving average of $103.85 and a two-hundred day simple moving average of $110.52.

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 the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.72%. The ex-dividend date is Tuesday, June 17th. Prologis's payout ratio is 101.00%.

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.