Prologis, Inc. (NYSE:PLD) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital increased its position in Prologis, Inc. (NYSE:PLD) by 2.8% in the first quarter, Holdings Channel reports. The firm owned 5,530 shares of the real estate investment trust’s stock after purchasing an additional 153 shares during the quarter. Wedmont Private Capital’s holdings in Prologis were worth $618,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PLD. Murphy & Mullick Capital Management Corp bought a new position in Prologis during the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new position in Prologis during the fourth quarter worth $30,000. REAP Financial Group LLC lifted its stake in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 84 shares during the last quarter. Finally, Promus Capital LLC bought a new stake in Prologis during the fourth quarter valued at $34,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 0.1%

PLD stock opened at $108.95 on Tuesday. The firm’s 50-day moving average is $103.61 and its two-hundred day moving average is $110.31. The company has a market capitalization of $101.10 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. 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 (NYSE:PLD) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.99 billion. On average, analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.71%. Prologis’s dividend payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

PLD has been the topic of several research reports. Wolfe Research lowered shares of Prologis from an “outperform” rating to a “peer perform” rating in a research note on Monday, April 21st. Evercore ISI lowered their target price on Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. Robert W. Baird cut their price target on Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Wall Street Zen upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company dropped their target price on Prologis from $146.00 to $119.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $120.42.

Prologis Company 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.