IFG Advisory LLC Makes New Investment in Prologis, Inc. (NYSE:PLD)

IFG Advisory LLC acquired a new position in Prologis, Inc. (NYSE:PLDFree Report) during the fourth quarter, HoldingsChannel reports. The fund acquired 2,842 shares of the real estate investment trust’s stock, valued at approximately $379,000.

Several other large investors have also made changes to their positions in PLD. Norges Bank acquired a new position in shares of Prologis during the fourth quarter valued at $980,759,000. Morgan Stanley lifted its stake in shares of Prologis by 48.0% during the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after acquiring an additional 4,729,040 shares during the period. Moneta Group Investment Advisors LLC acquired a new position in shares of Prologis during the fourth quarter valued at $232,205,000. Legal & General Group Plc lifted its stake in shares of Prologis by 22.4% during the fourth quarter. Legal & General Group Plc now owns 11,130,145 shares of the real estate investment trust’s stock valued at $1,254,702,000 after acquiring an additional 2,038,187 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Prologis in the third quarter valued at about $185,164,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 1.1 %

NYSE:PLD opened at $130.22 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $120.46 billion, a PE ratio of 39.58, a PEG ratio of 2.58 and a beta of 1.00. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock has a 50-day simple moving average of $130.64 and a 200 day simple moving average of $121.75.

Prologis (NYSE:PLDGet Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 earnings per share. On average, sell-side analysts expect that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.95%. Prologis’s dividend payout ratio (DPR) is presently 116.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Raymond James increased their target price on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Morgan Stanley increased their target price on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, December 14th. Evercore ISI reissued an “in-line” rating and issued a $136.00 target price on shares of Prologis in a research note on Monday, March 18th. Finally, Barclays cut their target price on Prologis from $153.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $141.67.

Get Our Latest Stock Analysis on PLD

Prologis Profile

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 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 (115 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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