Good Life Advisors LLC Has $1.30 Million Holdings in Prologis, Inc. (NYSE:PLD)

Good Life Advisors LLC raised its position in Prologis, Inc. (NYSE:PLD) by 5.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 9,731 shares of the real estate investment trust’s stock after acquiring an additional 499 shares during the period. Good Life Advisors LLC’s holdings in Prologis were worth $1,297,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in Prologis by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after acquiring an additional 1,034,211 shares during the period. FMR LLC raised its stake in shares of Prologis by 1.2% during the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after purchasing an additional 197,693 shares during the period. Morgan Stanley raised its stake in shares of Prologis by 48.0% during the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after purchasing an additional 4,729,040 shares during the period. Northern Trust Corp increased its stake in Prologis by 0.7% in the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after acquiring an additional 92,036 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Prologis by 2.3% during the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after purchasing an additional 268,667 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock traded up $1.36 during mid-day trading on Thursday, reaching $130.22. The company’s stock had a trading volume of 3,676,058 shares, compared to its average volume of 3,135,705. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a market cap of $120.46 billion, a P/E ratio of 39.46, a PEG ratio of 2.50 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The firm’s 50-day moving average is $130.52 and its two-hundred day moving average is $121.64.

Prologis (NYSE:PLD) last issued its earnings results 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). The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $1.24 EPS. On average, research analysts predict that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 18th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.95%. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is currently 116.72%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PLD shares. JPMorgan Chase & Co. raised Prologis from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $123.00 to $148.00 in a research report on Monday, December 18th. Barclays reduced their price target on Prologis from $153.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, December 14th. Robert W. Baird raised their price target on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Finally, Royal Bank of Canada raised their price target on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Four equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.67.

About Prologis

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.