Sagespring Wealth Partners LLC increased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 37.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,832 shares of the real estate investment trust's stock after purchasing an additional 2,423 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Prologis were worth $987,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in PLD. Brighton Jones LLC grew its position in shares of Prologis by 629.0% in 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 acquiring an additional 15,078 shares during the period. Montag A & Associates Inc. lifted its stake in Prologis by 109.0% in the 4th quarter. Montag A & Associates Inc. now owns 767 shares of the real estate investment trust's stock valued at $81,000 after purchasing an additional 400 shares during the last quarter. Principal Securities Inc. grew its holdings in Prologis by 3.8% during the fourth quarter. Principal Securities Inc. now owns 22,067 shares of the real estate investment trust's stock worth $2,332,000 after purchasing an additional 808 shares during the period. CIBC Asset Management Inc increased its position in Prologis by 12.7% during the fourth quarter. CIBC Asset Management Inc now owns 211,805 shares of the real estate investment trust's stock worth $22,388,000 after buying an additional 23,813 shares during the last quarter. Finally, GAM Holding AG acquired a new position in Prologis during the fourth quarter worth approximately $1,349,000. Institutional investors own 93.50% of the company's stock.
Analyst Ratings Changes
PLD has been the subject of several research analyst reports. Mizuho reduced their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Scotiabank upped their price objective on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Royal Bank Of Canada dropped their price objective on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Finally, BMO Capital Markets reduced their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.42.
Get Our Latest Stock Analysis on Prologis
Prologis Price Performance
NYSE:PLD traded down $0.04 during mid-day trading on Thursday, reaching $105.05. The stock had a trading volume of 2,599,324 shares, compared to its average volume of 4,118,967. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The stock has a market capitalization of $97.48 billion, a PE ratio of 26.26, a P/E/G ratio of 2.67 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. The stock has a 50-day simple moving average of $105.22 and a two-hundred day simple moving average of $109.92.
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 (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.45% and a net margin of 44.59%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share 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 given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Tuesday, June 17th. 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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