Prologis, Inc. (NYSE:PLD) Shares Bought by Avior Wealth Management LLC

Avior Wealth Management LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,121 shares of the real estate investment trust’s stock after buying an additional 350 shares during the quarter. Avior Wealth Management LLC’s holdings in Prologis were worth $683,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Thompson Investment Management Inc. acquired a new stake in Prologis during the 4th quarter worth $28,000. FinTrust Capital Advisors LLC grew its holdings in shares of Prologis by 966.7% during the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 232 shares during the last quarter. Fairfield Bush & CO. acquired a new stake in shares of Prologis during the second quarter worth about $35,000. Qube Research & Technologies Ltd lifted its holdings in shares of Prologis by 102.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 318 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 13,518 shares during the last quarter. Finally, Salem Investment Counselors Inc. acquired a new stake in shares of Prologis in the 4th quarter valued at about $37,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Raymond James lifted their target price on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. Royal Bank of Canada upped their target price on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Mizuho reissued a “neutral” rating and set a $130.00 price target on shares of Prologis in a research report on Tuesday, April 2nd. Evercore ISI restated an “in-line” rating and set a $136.00 price objective on shares of Prologis in a research report on Monday, March 18th. Finally, Robert W. Baird lifted their price target on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a report on Tuesday, January 23rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.27.

Prologis Stock Performance

Shares of PLD stock opened at $106.49 on Thursday. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a market capitalization of $98.51 billion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 2.31 and a beta of 1.00. 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 stock’s fifty day simple moving average is $128.99 and its 200-day simple moving average is $122.19.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. Prologis’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $1.24 earnings per share. On average, sell-side analysts predict that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.61%. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is 116.72%.

Prologis 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.