Arete Wealth Advisors LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,932 shares of the real estate investment trust’s stock, valued at approximately $865,000.
Several other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in shares of Prologis by 9.7% during the 1st quarter. Ameriprise Financial Inc. now owns 7,455,311 shares of the real estate investment trust’s stock worth $930,668,000 after purchasing an additional 656,206 shares in the last quarter. Power Corp of Canada grew its holdings in shares of Prologis by 100.0% during the 1st quarter. Power Corp of Canada now owns 8,214 shares of the real estate investment trust’s stock worth $961,000 after purchasing an additional 4,107 shares in the last quarter. Centaurus Financial Inc. grew its holdings in shares of Prologis by 34.3% during the 1st quarter. Centaurus Financial Inc. now owns 1,775 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 453 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Prologis by 31.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,333 shares of the real estate investment trust’s stock worth $2,038,000 after purchasing an additional 3,944 shares in the last quarter. Finally, Advisory Services Network LLC grew its holdings in shares of Prologis by 11.1% during the 1st quarter. Advisory Services Network LLC now owns 8,380 shares of the real estate investment trust’s stock worth $1,046,000 after purchasing an additional 837 shares in the last quarter. Institutional investors and hedge funds own 90.90% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on PLD. BTIG Research lifted their price objective on Prologis from $152.00 to $154.00 in a report on Wednesday, July 19th. BNP Paribas raised Prologis from a “neutral” rating to an “outperform” rating and set a $141.00 price target on the stock in a research note on Thursday, July 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $128.00 price target on shares of Prologis in a research note on Thursday, July 20th. Truist Financial decreased their price target on Prologis from $140.00 to $135.00 in a research note on Tuesday, June 27th. Finally, Barclays decreased their price target on Prologis from $160.00 to $159.00 in a research note on Wednesday, June 28th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.65.
Prologis Trading Up 2.5 %
NYSE PLD opened at $124.33 on Friday. The stock has a 50-day simple moving average of $123.64 and a 200 day simple moving average of $122.80. The company has a market capitalization of $114.86 billion, a PE ratio of 32.72, a P/E/G ratio of 2.46 and a beta of 0.98. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. Prologis, Inc. has a 12 month low of $98.03 and a 12 month high of $136.67.
Prologis (NYSE:PLD – Get Free Report) last released its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.15. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $1.72 billion. Prologis had a return on equity of 6.17% and a net margin of 42.52%. The firm’s revenue was up 95.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 earnings per share. Research analysts forecast that Prologis, Inc. will post 5.59 EPS for the current year.
Prologis Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be issued a $0.87 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.80%. Prologis’s dividend payout ratio is presently 91.58%.
Insider Activity at Prologis
In other Prologis news, Director George L. Fotiades sold 10,711 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $123.98, for a total value of $1,327,949.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At June 30, 2023, 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 (114 million square meters) in 19 countries.
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