Miracle Mile Advisors LLC Buys 1,253 Shares of Prologis, Inc. (NYSE:PLD)

Miracle Mile Advisors LLC boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 10.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,719 shares of the real estate investment trust’s stock after buying an additional 1,253 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Prologis were worth $1,534,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp purchased a new position in Prologis during the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. purchased a new position in Prologis during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new position in Prologis during the 4th quarter valued at about $30,000. REAP Financial Group LLC increased its position in Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 84 shares during the period. Finally, Promus Capital LLC purchased a new position in Prologis during the 4th quarter valued at about $34,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE PLD opened at $108.95 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The company has a 50 day simple moving average of $103.61 and a two-hundred day simple moving average of $110.31. The stock has a market cap of $101.10 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. As a group, analysts predict 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. Shareholders of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.71%. The ex-dividend date is Tuesday, June 17th. Prologis’s payout ratio is 101.00%.

Analyst Ratings Changes

A number of research analysts have commented on PLD shares. Wells Fargo & Company cut their target price on shares of Prologis from $146.00 to $119.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Morgan Stanley cut their target price on shares of Prologis to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Wolfe Research downgraded shares of Prologis from an “outperform” rating to a “peer perform” rating in a research report on Monday, April 21st. Evercore ISI cut 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 report on Thursday, April 17th. Finally, CJS Securities cut their price objective on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.42.

About Prologis

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.