Burney Co. Acquires 822 Shares of Prologis, Inc. (NYSE:PLD)

Burney Co. grew its stake in Prologis, Inc. (NYSE:PLDFree Report) by 24.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,124 shares of the real estate investment trust’s stock after buying an additional 822 shares during the period. Burney Co.’s holdings in Prologis were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. VitalStone Financial LLC acquired a new position in Prologis during the second quarter worth $27,000. DHJJ Financial Advisors Ltd. purchased a new position in Prologis in the third quarter worth $29,000. FinTrust Capital Advisors LLC increased its position in shares of Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Fairfield Bush & CO. purchased a new stake in shares of Prologis during the 2nd quarter valued at $35,000. Finally, ST Germain D J Co. Inc. purchased a new position in shares of Prologis in the 2nd quarter worth about $36,000. 90.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PLD has been the subject of several research analyst reports. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Scotiabank upped their target price on Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a research note on Friday, December 15th. Robert W. Baird raised their price target on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a report on Tuesday, January 23rd. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $130.00 target price on shares of Prologis in a research note on Tuesday, November 21st. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

Get Our Latest Analysis on Prologis

Prologis Stock Up 0.6 %

Shares of NYSE:PLD opened at $132.48 on Friday. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The stock has a market capitalization of $122.41 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.58 and a beta of 1.00. The stock has a fifty day simple moving average of $129.24 and a two-hundred day simple moving average of $119.79. The company has a current ratio of 0.09, a quick ratio of 0.43 and a debt-to-equity ratio of 0.50.

Prologis (NYSE:PLDGet Free Report) last announced its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 EPS. On average, research analysts anticipate that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were issued a dividend of $0.87 per share. The ex-dividend date was Friday, December 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.63%. Prologis’s payout ratio is 105.78%.

Insider Activity at Prologis

In other news, Director James B. Connor sold 103,331 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $133.20, for a total transaction of $13,763,689.20. Following the transaction, the director now directly owns 21,419 shares of the company’s stock, valued at approximately $2,853,010.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by insiders.

Prologis Company Profile

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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