Roosevelt Investment Group LLC lifted its stake in Prologis, Inc. (NYSE:PLD) by 2.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,170 shares of the real estate investment trust’s stock after purchasing an additional 3,868 shares during the quarter. Roosevelt Investment Group LLC’s holdings in Prologis were worth $16,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of PLD. Eagle Bay Advisors LLC purchased a new stake in shares of Prologis in the second quarter worth approximately $26,000. Logan Capital Management Inc. purchased a new stake in shares of Prologis in the first quarter worth approximately $29,000. Meridian Wealth Partners LLC lifted its position in shares of Prologis by 70.3% in the first quarter. Meridian Wealth Partners LLC now owns 441 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 182 shares in the last quarter. Tompkins Financial Corp lifted its position in shares of Prologis by 1,592.9% in the first quarter. Tompkins Financial Corp now owns 474 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 446 shares in the last quarter. Finally, Summit Wealth Group LLC purchased a new stake in shares of Prologis in the first quarter worth approximately $56,000. 93.04% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Prologis from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, September 16th. Truist Securities raised their price objective on shares of Prologis from $123.00 to $137.00 and gave the company a “buy” rating in a research report on Saturday, July 31st. Barclays assumed coverage on shares of Prologis in a research report on Wednesday, September 1st. They set an “overweight” rating and a $159.00 price objective on the stock. Raymond James raised their price objective on shares of Prologis from $138.00 to $143.00 and gave the company a “strong-buy” rating in a research report on Wednesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Prologis from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, August 18th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $137.13.
Prologis (NYSE:PLD) last announced its quarterly earnings data on Sunday, July 18th. The real estate investment trust reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.37. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Prologis had a return on equity of 4.27% and a net margin of 34.54%. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.11 EPS. As a group, sell-side analysts anticipate that Prologis, Inc. will post 4.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, September 17th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 16th. This represents a $2.52 annualized dividend and a yield of 1.94%. Prologis’s dividend payout ratio is currently 66.32%.
Prologis Company Profile
Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.
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