Ground Swell Capital LLC Invests $252,000 in Prologis, Inc. (NYSE:PLD)

Ground Swell Capital LLC acquired a new stake in Prologis, Inc. (NYSE:PLD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,383 shares of the real estate investment trust's stock, valued at approximately $252,000.

Other hedge funds also recently added to or reduced their stakes in the company. Phoenix Financial Ltd. boosted its stake in shares of Prologis by 1.0% during the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after purchasing an additional 86 shares in the last quarter. Principle Wealth Partners LLC boosted its position in Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock valued at $349,000 after acquiring an additional 92 shares in the last quarter. Black Diamond Financial LLC increased its holdings in shares of Prologis by 2.2% in the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock valued at $449,000 after acquiring an additional 93 shares during the period. Berkshire Bank increased its holdings in shares of Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock valued at $443,000 after acquiring an additional 95 shares during the period. Finally, CreativeOne Wealth LLC raised its position in shares of Prologis by 1.7% in the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock worth $642,000 after acquiring an additional 100 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PLD. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Mizuho cut their price objective 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. Evercore ISI decreased their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research report on Thursday, April 17th. Royal Bank of Canada cut their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Finally, BMO Capital Markets decreased their price objective on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $121.68.

Prologis Price Performance

Shares of PLD opened at $106.97 on Friday. The company has a market capitalization of $99.26 billion, a P/E ratio of 26.74, a P/E/G ratio of 2.70 and a beta of 1.25. The business's 50-day moving average is $105.95 and its two-hundred day moving average is $111.43. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. 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 quarterly earnings results 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. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.78%. Prologis's dividend payout ratio is presently 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.

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