Prologis, Inc. (NYSE:PLD) Shares Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 1.3% in the first quarter, Holdings Channel.com reports. The fund owned 14,236 shares of the real estate investment trust’s stock after acquiring an additional 183 shares during the period. Miracle Mile Advisors LLC’s holdings in Prologis were worth $1,854,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Optimum Investment Advisors purchased a new stake in Prologis during the first quarter valued at about $26,000. True Wealth Design LLC purchased a new stake in Prologis during the fourth quarter valued at about $27,000. Thompson Investment Management Inc. purchased a new stake in Prologis during the fourth quarter valued at about $28,000. JFS Wealth Advisors LLC lifted its stake in Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 168 shares in the last quarter. Finally, Clear Investment Research LLC lifted its stake in Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 158 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Down 0.3 %

Shares of PLD stock opened at $111.95 on Tuesday. The stock has a market cap of $103.65 billion, a P/E ratio of 32.73, a price-to-earnings-growth ratio of 2.50 and a beta of 1.07. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock has a fifty day moving average price of $108.14 and a 200 day moving average price of $121.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.43%. Prologis’s dividend payout ratio is currently 112.28%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. UBS Group dropped their target price on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Mizuho dropped their target price on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Robert W. Baird dropped their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Evercore ISI dropped their target price on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $129.76.

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.