RKL Wealth Management LLC Makes New $1.39 Million Investment in Prologis, Inc. (NYSE:PLD)

RKL Wealth Management LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,473 shares of the real estate investment trust's stock, valued at approximately $1,394,000.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Prologis by 18,374.0% during the 4th quarter. Proficio Capital Partners LLC now owns 346,388 shares of the real estate investment trust's stock valued at $346,000 after purchasing an additional 344,513 shares in the last quarter. Private Trust Co. NA increased its position in shares of Prologis by 10.3% during the fourth quarter. Private Trust Co. NA now owns 4,186 shares of the real estate investment trust's stock valued at $442,000 after buying an additional 391 shares during the period. SVB Wealth LLC bought a new position in Prologis in the fourth quarter worth about $937,000. Finally, Smartleaf Asset Management LLC raised its stake in Prologis by 10.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,971 shares of the real estate investment trust's stock worth $1,048,000 after buying an additional 949 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of PLD traded up $1.78 on Wednesday, reaching $108.36. The company's stock had a trading volume of 3,458,860 shares, compared to its average volume of 4,161,903. The stock's 50 day simple moving average is $106.47 and its two-hundred day simple moving average is $109.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. The stock has a market capitalization of $100.55 billion, a P/E ratio of 27.09, a PEG ratio of 2.70 and a beta of 1.23. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. Research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Tuesday, June 17th. Prologis's payout ratio is 101.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. BMO Capital Markets reduced their target price on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Royal Bank Of Canada reduced their price target 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. Morgan Stanley lowered their price objective on Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Mizuho reduced their target price on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Scotiabank increased their price target on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Company Profile

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.