Prologis, Inc. (NYSE:PLD) Shares Purchased by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,981 shares of the real estate investment trust's stock after purchasing an additional 2,881 shares during the period. Brown Miller Wealth Management LLC's holdings in Prologis were worth $1,898,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Prologis in the 4th quarter valued at about $951,263,000. Northern Trust Corp raised its holdings in 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 acquiring an additional 4,893,284 shares during the last quarter. Capital Research Global Investors raised its holdings in Prologis by 25.4% in the 4th 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 acquiring an additional 2,500,761 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Prologis in the 4th quarter valued at about $254,876,000. Finally, FMR LLC raised its holdings in Prologis by 11.7% in the 4th 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 last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PLD. Truist Financial cut their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Mizuho cut their price objective 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. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday. Wells Fargo & Company dropped their price target on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Finally, CJS Securities dropped their price target on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.42.

Prologis Stock Performance

NYSE:PLD opened at $107.18 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock has a market capitalization of $99.45 billion, a P/E ratio of 26.79, a PEG ratio of 2.70 and a beta of 1.25. The company has a 50 day moving average price of $104.61 and a 200 day moving average price of $110.06. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.77%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

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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