Altfest L J & Co. Inc. Acquires Shares of 3,678 Prologis, Inc. (NYSE:PLD)

Altfest L J & Co. Inc. acquired a new stake in Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,678 shares of the real estate investment trust’s stock, valued at approximately $490,000.

A number of other large investors have also recently modified their holdings of the company. RB Capital Management LLC boosted its stake in shares of Prologis by 14.7% during the first quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock valued at $485,000 after purchasing an additional 385 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Prologis by 5.3% in the 1st quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock valued at $3,490,000 after acquiring an additional 1,092 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Prologis by 87.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock worth $546,000 after acquiring an additional 1,580 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Prologis by 41.8% during the 1st quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock worth $38,952,000 after purchasing an additional 71,112 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its position in Prologis by 38.8% during the first quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock valued at $336,000 after purchasing an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock traded up $0.74 on Thursday, reaching $129.60. 967,975 shares of the stock were exchanged, compared to its average volume of 3,090,941. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $119.89 billion, a PE ratio of 39.42, a PEG ratio of 2.50 and a beta of 1.00. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The business has a fifty day moving average price of $130.52 and a two-hundred day moving average price of $121.64.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a return on equity of 5.29% and a net margin of 38.13%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the company posted $1.24 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be issued a dividend of $0.96 per share. The ex-dividend date is Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 2.96%. Prologis’s payout ratio is currently 116.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLD. Raymond James lifted their price objective on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, December 14th. Evercore ISI reiterated an “in-line” rating and issued a $136.00 price target on shares of Prologis in a research note on Monday, March 18th. Mizuho upped their price target on shares of Prologis from $125.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Finally, Scotiabank lifted their target price on Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a report on Friday, December 15th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.67.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.