Focus Financial Network Inc. Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Focus Financial Network Inc. increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLD. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis in the 4th quarter valued at approximately $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in Prologis in the 4th quarter valued at approximately $30,000. REAP Financial Group LLC boosted its holdings in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 84 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Prologis in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BMO Capital Markets lowered their price objective on Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Scotiabank lifted their price objective on Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a report on Monday, May 12th. Wolfe Research lowered Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. Morgan Stanley reduced their price target on shares of Prologis to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, Barclays reduced 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.42.

Prologis Stock Down 1.2%

PLD stock opened at $107.18 on Friday. The stock has a market capitalization of $99.45 billion, a P/E ratio of 26.79, a PEG ratio of 2.70 and a beta of 1.25. 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 one year low of $85.35 and a one year high of $132.57. The company has a 50 day moving average price of $104.61 and a two-hundred day moving average price of $110.11.

Prologis (NYSE:PLD) last released its earnings results 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 analysts’ expectations 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 expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.77%. Prologis’s payout ratio is currently 101.00%.

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.