Consolidated Investment Group LLC boosted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 22.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,500 shares of the real estate investment trust's stock after buying an additional 4,500 shares during the quarter. Consolidated Investment Group LLC's holdings in Prologis were worth $2,739,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of PLD. Murphy & Mullick Capital Management Corp acquired a new stake in Prologis in the 4th quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new stake in Prologis in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis in the 4th quarter valued at $30,000. REAP Financial Group LLC boosted its stake in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 84 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in Prologis in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.
Analyst Ratings Changes
PLD has been the subject of several research analyst reports. Robert W. Baird cut 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. BMO Capital Markets cut their price objective on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Mizuho cut their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Scotiabank lifted their price objective on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research report on Monday, May 12th. Finally, Morgan Stanley cut their price objective on Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Two investment 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $120.42.
View Our Latest Report on PLD
Prologis Trading Up 0.6%
Shares of PLD stock traded up $0.59 on Friday, reaching $105.67. 6,746,280 shares of the stock were exchanged, compared to its average volume of 4,116,515. The stock has a 50 day moving average price of $105.62 and a 200 day moving average price of $109.71. The stock has a market cap of $98.05 billion, a PE ratio of 26.42, a P/E/G ratio of 2.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57.
Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. Equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.
Prologis Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a $1.01 dividend. 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 3.82%. Prologis's dividend payout ratio is presently 101.00%.
About Prologis
(
Free Report)
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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