Atticus Wealth Management LLC Buys 169 Shares of Prologis, Inc. (NYSE:PLD)

Atticus Wealth Management LLC grew its stake in shares of Prologis, Inc. (NYSE:PLDGet Rating) by 71.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 405 shares of the real estate investment trust’s stock after purchasing an additional 169 shares during the period. Atticus Wealth Management LLC’s holdings in Prologis were worth $48,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Highland Capital Management LLC boosted its stake in Prologis by 0.3% during the first quarter. Highland Capital Management LLC now owns 18,103 shares of the real estate investment trust’s stock worth $2,923,000 after acquiring an additional 60 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Prologis by 1.1% during the first quarter. Gateway Investment Advisers LLC now owns 5,780 shares of the real estate investment trust’s stock valued at $933,000 after purchasing an additional 62 shares during the last quarter. Financial Management Professionals Inc. raised its holdings in shares of Prologis by 43.8% during the first quarter. Financial Management Professionals Inc. now owns 220 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 67 shares during the last quarter. Clean Yield Group raised its holdings in shares of Prologis by 1.4% during the first quarter. Clean Yield Group now owns 5,129 shares of the real estate investment trust’s stock valued at $828,000 after purchasing an additional 69 shares during the last quarter. Finally, WMS Partners LLC raised its holdings in shares of Prologis by 3.9% during the fourth quarter. WMS Partners LLC now owns 2,032 shares of the real estate investment trust’s stock valued at $342,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 94.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLD. Barclays decreased their price objective on shares of Prologis from $190.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, July 21st. Wells Fargo & Company boosted their target price on shares of Prologis from $160.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, August 11th. Jefferies Financial Group cut their target price on shares of Prologis from $174.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. Evercore ISI cut their target price on shares of Prologis from $134.00 to $133.00 and set an “in-line” rating for the company in a research report on Monday. Finally, Wolfe Research upgraded shares of Prologis from a “peer perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Wednesday, August 24th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $173.31.

Prologis Price Performance

Prologis stock opened at $108.55 on Thursday. The company has a market cap of $80.37 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.42 and a beta of 0.88. The firm’s fifty day moving average is $127.17 and its 200 day moving average is $135.68. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.46. Prologis, Inc. has a 52-week low of $106.46 and a 52-week high of $174.54.

Prologis (NYSE:PLDGet Rating) last announced its earnings results on Monday, July 18th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.30). Prologis had a net margin of 75.72% and a return on equity of 9.85%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company posted $1.01 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts forecast that Prologis, Inc. will post 5.17 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.91%. The ex-dividend date is Wednesday, September 14th. Prologis’s dividend payout ratio is presently 63.20%.

Prologis Company Profile

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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

Further Reading

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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