Prologis, Inc. (NYSE:PLD) Stock Position Raised by Brooklyn Investment Group

Brooklyn Investment Group boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 11.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,760 shares of the real estate investment trust’s stock after purchasing an additional 500 shares during the period. Brooklyn Investment Group’s holdings in Prologis were worth $601,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its position in Prologis by 48.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 20,792 shares of the real estate investment trust’s stock valued at $2,708,000 after buying an additional 6,780 shares during the period. Tidal Investments LLC increased its holdings in shares of Prologis by 19.8% in the 1st quarter. Tidal Investments LLC now owns 141,415 shares of the real estate investment trust’s stock valued at $18,415,000 after purchasing an additional 23,346 shares during the period. Beacon Capital Management LLC lifted its position in shares of Prologis by 379.1% in the first quarter. Beacon Capital Management LLC now owns 872 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 690 shares in the last quarter. Zimmer Partners LP acquired a new stake in shares of Prologis during the first quarter worth approximately $11,720,000. Finally, Plato Investment Management Ltd grew its position in Prologis by 946.0% during the first quarter. Plato Investment Management Ltd now owns 29,121 shares of the real estate investment trust’s stock valued at $3,792,000 after purchasing an additional 26,337 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Down 0.5 %

Shares of PLD stock opened at $117.48 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a fifty day moving average of $119.53 and a 200-day moving average of $118.55. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The stock has a market cap of $108.81 billion, a price-to-earnings ratio of 35.66, a P/E/G ratio of 3.05 and a beta of 1.08.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 earnings per share. On average, equities research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

Analysts Set New Price Targets

PLD has been the subject of several recent research reports. Bank of America reiterated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Truist Financial lifted their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays increased their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.25.

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.