Atria Investments Inc Acquires 15,355 Shares of Prologis, Inc. (NYSE:PLD)

Atria Investments Inc lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 19.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,525 shares of the real estate investment trust's stock after purchasing an additional 15,355 shares during the quarter. Atria Investments Inc's holdings in Prologis were worth $10,679,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Prologis during the 4th quarter worth about $951,263,000. Northern Trust Corp grew its stake in shares of Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in Prologis by 282.5% in the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock worth $433,229,000 after purchasing an additional 2,862,183 shares in the last quarter. Capital Research Global Investors grew its holdings in Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after purchasing an additional 2,500,761 shares during the last quarter. Finally, FMR LLC boosted its holdings in Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after acquiring an additional 1,875,978 shares during the period. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. 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 research report on Thursday, April 17th. Morgan Stanley dropped their price objective on Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Robert W. Baird decreased their price objective on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada cut their target price on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and an average target price of $120.74.

Prologis Price Performance

NYSE PLD traded up $0.51 during midday trading on Friday, hitting $110.23. The company had a trading volume of 2,150,671 shares, compared to its average volume of 4,782,002. The company has a current ratio of 0.19, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a market capitalization of $102.29 billion, a PE ratio of 29.87, a P/E/G ratio of 2.75 and a beta of 1.23. The firm has a 50-day moving average price of $107.48 and a 200-day moving average price of $109.74.

Prologis (NYSE:PLD - Get Free Report) last issued its 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 firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The business's quarterly revenue was up 8.8% on a year-over-year basis. As a group, analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's payout ratio 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.