Wealth Enhancement Advisory Services LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 9.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 55,605 shares of the real estate investment trust's stock after acquiring an additional 4,851 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Prologis were worth $6,216,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in PLD. Brighton Jones LLC grew its position in Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after acquiring an additional 15,078 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Prologis by 14.5% in the 4th quarter. Sigma Planning Corp now owns 8,940 shares of the real estate investment trust's stock valued at $945,000 after purchasing an additional 1,131 shares in the last quarter. Howard Capital Management Inc. grew its holdings in shares of Prologis by 5.8% during the 4th quarter. Howard Capital Management Inc. now owns 6,294 shares of the real estate investment trust's stock valued at $665,000 after purchasing an additional 346 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Prologis by 29.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 618 shares of the real estate investment trust's stock worth $65,000 after purchasing an additional 140 shares during the period. Finally, IFP Advisors Inc raised its position in Prologis by 29.7% in the 4th quarter. IFP Advisors Inc now owns 4,624 shares of the real estate investment trust's stock worth $489,000 after purchasing an additional 1,058 shares during the period. 93.50% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have issued reports on PLD. CJS Securities cut their price target on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. BMO Capital Markets dropped their target price on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Morgan Stanley decreased their price target on Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Scotiabank boosted 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, Truist Financial dropped their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.42.
View Our Latest Report on PLD
Prologis Trading Up 1.1%
Shares of NYSE:PLD traded up $1.19 on Friday, hitting $105.58. The company had a trading volume of 5,732,894 shares, compared to its average volume of 4,129,814. The firm's 50-day simple moving average is $106.21 and its two-hundred day simple moving average is $109.48. The firm has a market capitalization of $97.97 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 2.68 and a beta of 1.25. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.
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 (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. Equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.
Prologis Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.83%. Prologis's dividend payout ratio is presently 101.00%.
Prologis Company Profile
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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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