Pines Wealth Management LLC Purchases Shares of 7,152 Prologis, Inc. (NYSE:PLD)

Pines Wealth Management LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,152 shares of the real estate investment trust’s stock, valued at approximately $741,000.

Other institutional investors also recently modified their holdings of the company. Coronation Fund Managers Ltd. bought a new position in shares of Prologis in the 2nd quarter worth $878,000. Headlands Technologies LLC bought a new position in Prologis in the second quarter valued at $53,000. Oppenheimer Asset Management Inc. increased its stake in Prologis by 1.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 39,815 shares of the real estate investment trust’s stock valued at $4,472,000 after acquiring an additional 381 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Prologis by 362.9% during the second quarter. Brown Brothers Harriman & Co. now owns 3,930 shares of the real estate investment trust’s stock valued at $441,000 after purchasing an additional 3,081 shares in the last quarter. Finally, One Capital Management LLC lifted its stake in Prologis by 770.6% during the second quarter. One Capital Management LLC now owns 37,168 shares of the real estate investment trust’s stock worth $4,174,000 after purchasing an additional 32,899 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Up 2.7 %

Shares of NYSE:PLD opened at $108.26 on Wednesday. The stock’s 50-day moving average is $110.65 and its 200 day moving average is $118.43. The company has a market cap of $100.27 billion, a PE ratio of 32.71, a P/E/G ratio of 3.27 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

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

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is currently 116.01%.

Wall Street Analyst Weigh In

PLD has been the topic of several recent research reports. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $124.00 to $123.00 in a research report on Monday, January 6th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Mizuho reduced their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Truist Financial decreased their target price on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $129.06.

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.