Prologis, Inc. (NYSE:PLD) Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 52.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,478 shares of the real estate investment trust's stock after buying an additional 24,984 shares during the period. Wealthfront Advisers LLC's holdings in Prologis were worth $8,102,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis in the fourth quarter worth about $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis during the fourth quarter valued at approximately $27,000. REAP Financial Group LLC raised 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 valued at $31,000 after purchasing an additional 84 shares during the period. Olde Wealth Management LLC purchased a new stake in Prologis during the first quarter valued at approximately $43,000. Finally, Cornerstone Planning Group LLC raised its position in Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 152 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Up 0.2%

PLD traded up $0.26 during trading on Friday, hitting $106.69. 4,481,494 shares of the stock were exchanged, compared to its average volume of 4,652,630. The firm has a 50 day simple moving average of $107.49 and a 200 day simple moving average of $109.61. The firm has a market cap of $99.00 billion, a price-to-earnings ratio of 28.91, a P/E/G ratio of 2.77 and a beta of 1.23. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. Prologis's quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $1.34 EPS. As a group, equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.79%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Analysts Set New Price Targets

PLD has been the topic of a number of recent research reports. CJS Securities decreased their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Evercore ISI decreased their price objective on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley decreased their price objective on Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Truist Financial decreased their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Mizuho decreased their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.47.

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.