Independent Advisor Alliance Has $1.90 Million Stake in Prologis, Inc. (NYSE:PLD)

Independent Advisor Alliance increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 32.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 15,054 shares of the real estate investment trust’s stock after purchasing an additional 3,690 shares during the period. Independent Advisor Alliance’s holdings in Prologis were worth $1,901,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its holdings in Prologis by 48.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 20,792 shares of the real estate investment trust’s stock worth $2,708,000 after acquiring an additional 6,780 shares during the last quarter. Beacon Capital Management LLC raised its position in Prologis by 379.1% in the 1st quarter. Beacon Capital Management LLC now owns 872 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 690 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in Prologis during the 1st quarter worth $232,000. Wahed Invest LLC lifted its holdings in Prologis by 17.3% during the 1st quarter. Wahed Invest LLC now owns 18,307 shares of the real estate investment trust’s stock worth $2,384,000 after buying an additional 2,701 shares in the last quarter. Finally, Pacific Center for Financial Services bought a new position in Prologis in the first quarter valued at about $154,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Down 1.6 %

NYSE PLD opened at $116.16 on Wednesday. The stock has a market capitalization of $107.58 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 3.05 and a beta of 1.08. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The stock’s 50 day moving average price is $119.27 and its two-hundred day moving average price is $118.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company posted $1.30 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 116.01%.

Analyst Ratings Changes

Several research firms have recently issued reports on PLD. Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Scotiabank cut their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Truist Financial boosted their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $131.25.

Prologis Company 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.