J.W. Cole Advisors Inc. boosted its stake in shares of Prologis, Inc. (NYSE:PLD – Get Rating) by 32.2% during the 1st quarter, HoldingsChannel reports. The fund owned 3,676 shares of the real estate investment trust’s stock after purchasing an additional 896 shares during the period. J.W. Cole Advisors Inc.’s holdings in Prologis were worth $594,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky increased its stake in Prologis by 22.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 251,562 shares of the real estate investment trust’s stock worth $40,622,000 after acquiring an additional 45,313 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Prologis by 24.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 158,122 shares of the real estate investment trust’s stock worth $25,533,000 after acquiring an additional 31,342 shares during the last quarter. Midwest Wealth Management Inc. increased its stake in Prologis by 3.9% during the first quarter. Midwest Wealth Management Inc. now owns 13,331 shares of the real estate investment trust’s stock worth $2,153,000 after acquiring an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Prologis by 10.3% during the first quarter. EverSource Wealth Advisors LLC now owns 1,538 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 144 shares during the last quarter. Finally, Phocas Financial Corp. grew its stake in shares of Prologis by 0.4% during the first quarter. Phocas Financial Corp. now owns 32,087 shares of the real estate investment trust’s stock valued at $5,181,000 after buying an additional 118 shares during the last quarter. 94.01% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on PLD. Evercore ISI set a $134.00 target price on Prologis in a research note on Tuesday, July 19th. Wells Fargo & Company upped their target price on Prologis from $160.00 to $163.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. Barclays cut their target price on Prologis from $190.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, July 21st. Raymond James lowered their price target on Prologis from $190.00 to $160.00 in a report on Thursday, July 21st. Finally, Wolfe Research upgraded Prologis from a “peer perform” rating to an “outperform” rating and set a $200.00 price target for the company in a report on Wednesday, August 24th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $173.38.
Prologis Stock Down 2.2 %
Prologis (NYSE:PLD – Get Rating) last issued its quarterly earnings results on Monday, July 18th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.30). The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.09 billion. Prologis had a return on equity of 9.85% and a net margin of 75.72%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. On average, analysts forecast that Prologis, Inc. will post 5.17 earnings per share for the current fiscal year.
Prologis Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Wednesday, September 14th. Prologis’s payout ratio is presently 63.20%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.
- Get a free copy of the StockNews.com research report on Prologis (PLD)
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