Yoffe Investment Management LLC Buys Shares of 2,795 Prologis, Inc. (NYSE:PLD)

Yoffe Investment Management LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,795 shares of the real estate investment trust's stock, valued at approximately $295,000.

Other institutional investors also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in shares of Prologis during the fourth quarter worth about $81,000. Great Valley Advisor Group Inc. boosted its holdings in Prologis by 0.6% during the fourth quarter. Great Valley Advisor Group Inc. now owns 20,924 shares of the real estate investment trust's stock worth $2,211,000 after buying an additional 120 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Prologis during the 4th quarter valued at $371,000. GF Fund Management CO. LTD. acquired a new stake in Prologis in the 4th quarter worth $1,778,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Prologis during the fourth quarter worth approximately $1,801,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Scotiabank lifted their price target 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. Raymond James restated a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. Finally, Mizuho decreased their price target on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $120.42.

Prologis Stock Down 0.5%

Shares of Prologis stock traded down $0.59 during trading hours on Friday, reaching $108.64. 7,261,566 shares of the company's stock were exchanged, compared to its average volume of 4,208,603. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $103.94 and a two-hundred day moving average of $110.63. The stock has a market cap of $100.81 billion, a P/E ratio of 27.16, 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.

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

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio is currently 101.00%.

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.