Tritonpoint Wealth LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,813 shares of the real estate investment trust’s stock, valued at approximately $203,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of PLD. Norges Bank bought a new stake in shares of Prologis in the fourth quarter worth about $951,263,000. Northern Trust Corp grew its stake in shares of Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock worth $1,464,509,000 after purchasing an additional 4,893,284 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Prologis by 25.4% in the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock worth $1,304,922,000 after purchasing an additional 2,500,761 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Prologis in the fourth quarter worth about $254,876,000. Finally, FMR LLC grew its stake in shares of Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares during the last quarter. 93.50% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
PLD has been the subject of several research analyst reports. Royal Bank of Canada lowered 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. Barclays lowered their price objective on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Mizuho lowered 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. CJS Securities lowered their price objective on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Finally, Wolfe Research lowered shares of Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.42.
Prologis Price Performance
Shares of PLD opened at $107.18 on Monday. The company has a market capitalization of $99.45 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. 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 50 day moving average of $104.61 and a 200 day moving average of $110.06. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57.
Prologis (NYSE:PLD – Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.
Prologis Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 dividend yield of 3.77%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.
About Prologis
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.
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