Focus Financial Network Inc. grew its stake in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 5.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,093 shares of the real estate investment trust’s stock after buying an additional 104 shares during the quarter. Focus Financial Network Inc.’s holdings in Prologis were worth $234,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in PLD. Brighton Jones LLC grew its stake in shares of Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after buying an additional 15,078 shares during the period. Gladstone Institutional Advisory LLC boosted its position in Prologis by 26.4% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 5,090 shares of the real estate investment trust’s stock worth $538,000 after purchasing an additional 1,062 shares during the period. Vontobel Holding Ltd. boosted its position in Prologis by 15.1% during the 4th quarter. Vontobel Holding Ltd. now owns 132,833 shares of the real estate investment trust’s stock worth $14,040,000 after purchasing an additional 17,439 shares during the period. Asset Planning Inc purchased a new stake in Prologis during the 4th quarter worth $53,000. Finally, Valeo Financial Advisors LLC boosted its position in Prologis by 0.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,013,203 shares of the real estate investment trust’s stock worth $107,096,000 after purchasing an additional 3,669 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages recently weighed in on PLD. Barclays decreased their price target on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Truist Financial decreased their price target on shares of Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Scotiabank upped their price target on shares of Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research report on Monday, May 12th. Wall Street Zen cut shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Wells Fargo & Company decreased their price target on shares of Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Two 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.42.
Prologis Stock Performance
Shares of Prologis stock opened at $107.18 on Friday. The firm has a market cap of $99.45 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The firm’s 50-day simple moving average is $104.61 and its 200-day simple moving average is $110.11. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.
Prologis (NYSE:PLD – Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.
Prologis Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.77%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.
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.
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