Prologis, Inc. (NYSE:PLD) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its position in Prologis, Inc. (NYSE:PLD) by 4.1% in the 4th quarter, HoldingsChannel reports. The firm owned 48,108 shares of the real estate investment trust’s stock after purchasing an additional 1,898 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Prologis were worth $5,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sunflower Bank N.A. purchased a new position in Prologis during the 3rd quarter worth approximately $249,000. Coronation Fund Managers Ltd. purchased a new position in shares of Prologis during the second quarter worth $878,000. DekaBank Deutsche Girozentrale lifted its position in Prologis by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after purchasing an additional 29,400 shares during the period. Cardano Risk Management B.V. purchased a new stake in Prologis in the third quarter valued at $109,579,000. Finally, Worldquant Millennium Advisors LLC acquired a new stake in Prologis during the 3rd quarter worth about $1,051,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 1.7 %

Shares of PLD opened at $105.37 on Tuesday. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The stock has a market cap of $97.59 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The firm’s fifty day moving average is $110.77 and its two-hundred day moving average is $118.46. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last posted its quarterly earnings results 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 business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.30 earnings per share. Research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.64%. Prologis’s payout ratio is 116.01%.

Analyst Ratings Changes

PLD has been the subject of several analyst reports. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Evercore ISI boosted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Truist Financial cut their price objective on shares of Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Finally, Scotiabank lowered their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average target price of $129.06.

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.