Wealthcare Advisory Partners LLC Increases Position in Prologis, Inc. (NYSE:PLD)

Wealthcare Advisory Partners LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 24.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,107 shares of the real estate investment trust’s stock after acquiring an additional 605 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Prologis were worth $347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cohen & Steers Inc. increased its position in shares of Prologis by 3.2% during the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock valued at $2,994,557,000 after buying an additional 882,529 shares during the period. Geode Capital Management LLC raised its holdings in Prologis by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock worth $2,252,853,000 after buying an additional 610,251 shares during the last quarter. FMR LLC lifted its position in Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock valued at $1,889,747,000 after acquiring an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Prologis by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock valued at $1,754,282,000 after buying an additional 334,907 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after acquiring an additional 4,893,284 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Prologis stock opened at $107.18 on Friday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a market capitalization of $99.45 billion, a PE ratio of 26.79, a P/E/G ratio of 2.70 and a beta of 1.25. The company has a 50 day moving average price of $104.61 and a 200-day moving average price of $110.11.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. As a group, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current 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 given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.77%. Prologis’s payout ratio is 101.00%.

Wall Street Analyst Weigh In

Several analysts recently commented on PLD shares. Scotiabank lifted their price objective on Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a report on Monday, May 12th. Evercore ISI lowered their target price on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research note on Thursday, April 17th. Mizuho dropped their price target on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Truist Financial cut their price objective on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Finally, Royal Bank of Canada cut their target price on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a report on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.42.

Prologis Profile

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.