RMR Wealth Builders Acquires 487 Shares of Prologis, Inc. (NYSE:PLD)

RMR Wealth Builders raised its holdings in Prologis, Inc. (NYSE:PLD) by 22.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,633 shares of the real estate investment trust’s stock after purchasing an additional 487 shares during the quarter. RMR Wealth Builders’ holdings in Prologis were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sunflower Bank N.A. bought a new stake in shares of Prologis in the third quarter valued at approximately $249,000. Coronation Fund Managers Ltd. acquired a new position in Prologis in the 2nd quarter valued at $878,000. DekaBank Deutsche Girozentrale lifted its position in shares of Prologis by 2.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after acquiring an additional 29,400 shares during the period. Cardano Risk Management B.V. acquired a new stake in shares of Prologis during the 3rd quarter worth $109,579,000. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Prologis in the third quarter worth $1,051,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 1.8 %

NYSE:PLD opened at $103.65 on Friday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $96.00 billion, a PE ratio of 31.31, a P/E/G ratio of 3.27 and a beta of 1.09. The firm’s 50 day simple moving average is $110.94 and its 200 day simple moving average is $118.39.

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

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.70%. Prologis’s payout ratio is 116.01%.

Analysts Set New Price Targets

Several research firms recently weighed in on PLD. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Raymond James reaffirmed an “outperform” rating and set a $125.00 price target (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Scotiabank cut their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $129.06.

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.