Patriot Financial Group Insurance Agency LLC Grows Position in Prologis, Inc. (NYSE:PLD)

Patriot Financial Group Insurance Agency LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 5.6% in the first quarter, Holdings Channel.com reports. The firm owned 4,593 shares of the real estate investment trust’s stock after purchasing an additional 243 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Prologis were worth $513,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new stake in Prologis during the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. bought a new stake in Prologis during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in Prologis during the 4th quarter valued at about $30,000. REAP Financial Group LLC lifted its holdings 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 buying an additional 84 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Prologis during the 4th quarter valued at about $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PLD shares. Royal Bank of Canada decreased their price objective on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a report on Tuesday, April 29th. Mizuho decreased their price objective on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Wolfe Research lowered shares of Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. Truist Financial reduced their price target on shares of Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, Evercore ISI reduced their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $120.42.

Prologis Trading Up 0.1%

NYSE PLD opened at $108.95 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market cap of $101.10 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The company has a 50 day moving average price of $103.61 and a 200 day moving average price of $110.31. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion during 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%. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio 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.