Ritholtz Wealth Management Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Ritholtz Wealth Management raised its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,356 shares of the real estate investment trust's stock after acquiring an additional 6,187 shares during the period. Ritholtz Wealth Management's holdings in Prologis were worth $5,629,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis in the fourth quarter worth about $26,000. Crowley Wealth Management Inc. purchased a new position in shares of Prologis in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new position in Prologis in the 4th quarter worth about $30,000. REAP Financial Group LLC boosted its position in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Finally, Promus Capital LLC acquired a new stake in Prologis in the fourth quarter valued at approximately $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Up 0.3%

Shares of NYSE:PLD traded up $0.31 during midday trading on Monday, reaching $107.59. 1,050,420 shares of the company's stock were exchanged, compared to its average volume of 4,110,886. The stock has a market cap of $99.84 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The firm's 50 day simple moving average is $104.61 and its two-hundred day simple moving average is $110.06. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid 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 dividend yield of 3.75%. Prologis's payout ratio is presently 101.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PLD shares. BMO Capital Markets decreased their target price on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. CJS Securities decreased their price objective on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Robert W. Baird cut their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley reduced their price target on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Wolfe Research cut Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $120.42.

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.