SOA Wealth Advisors LLC. Acquires 8,905 Shares of Prologis, Inc. (NYSE:PLD)

SOA Wealth Advisors LLC. raised its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 16,801.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,958 shares of the real estate investment trust's stock after buying an additional 8,905 shares during the quarter. SOA Wealth Advisors LLC.'s holdings in Prologis were worth $1,001,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cohen & Steers Inc. raised its stake in shares of Prologis by 3.2% in the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock valued at $2,994,557,000 after buying an additional 882,529 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after buying an additional 610,251 shares in the last quarter. FMR LLC raised its stake in shares of Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after buying an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Prologis by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after buying an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PLD shares. Truist Financial dropped their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. BMO Capital Markets dropped their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Scotiabank increased their target price on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. Robert W. Baird dropped their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of Prologis from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $120.42.

Prologis Price Performance

PLD traded up $1.09 during midday trading on Friday, hitting $108.91. The company had a trading volume of 3,644,410 shares, compared to its average volume of 4,151,453. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a market capitalization of $101.06 billion, a PE ratio of 27.23, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The firm's 50-day simple moving average is $103.68 and its 200-day simple moving average is $110.38.

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

Prologis Dividend Announcement

The firm also recently announced 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. This represents a $4.04 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Prologis 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.