RBA Wealth Management LLC Acquires 412 Shares of Prologis, Inc. (NYSE:PLD)

RBA Wealth Management LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,474 shares of the real estate investment trust’s stock after buying an additional 412 shares during the quarter. Prologis accounts for approximately 1.8% of RBA Wealth Management LLC’s holdings, making the stock its 27th biggest holding. RBA Wealth Management LLC’s holdings in Prologis were worth $4,359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Family Legacy Inc. grew its holdings in Prologis by 0.5% during the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after acquiring an additional 87 shares during the last quarter. Lockerman Financial Group Inc. lifted its position in Prologis by 2.0% during the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after purchasing an additional 87 shares during the period. Hixon Zuercher LLC lifted its position in Prologis by 0.6% during the 4th quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock valued at $1,950,000 after purchasing an additional 88 shares during the period. AdvisorNet Financial Inc lifted its position in Prologis by 11.0% during the 4th quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 90 shares during the period. Finally, CVA Family Office LLC lifted its position in Prologis by 21.4% during the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 94 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD traded up $0.09 during midday trading on Thursday, reaching $113.30. 1,339,492 shares of the stock were exchanged, compared to its average volume of 3,843,346. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. The company has a market cap of $104.90 billion, a P/E ratio of 33.13, a PEG ratio of 2.52 and a beta of 1.06. The stock’s 50 day simple moving average is $108.66 and its 200 day simple moving average is $121.39.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a dividend of $0.96 per share. The ex-dividend date was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.39%. Prologis’s dividend payout ratio is 112.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PLD shares. Royal Bank of Canada cut their target price on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Evercore ISI cut their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday, April 18th. Argus cut their target price on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Mizuho cut their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Finally, Barclays cut their price target on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.76.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.