EP Wealth Advisors LLC Increases Stake in Prologis, Inc. (NYSE:PLD)

EP Wealth Advisors LLC boosted its position in Prologis, Inc. (NYSE:PLD) by 13.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 12,344 shares of the real estate investment trust’s stock after acquiring an additional 1,442 shares during the period. EP Wealth Advisors LLC’s holdings in Prologis were worth $1,607,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Prologis by 4.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 223,532 shares of the real estate investment trust’s stock valued at $29,797,000 after purchasing an additional 9,180 shares during the period. Highland Capital Management LLC raised its holdings in Prologis by 0.7% during the 4th quarter. Highland Capital Management LLC now owns 33,880 shares of the real estate investment trust’s stock valued at $4,516,000 after acquiring an additional 250 shares during the period. IFG Advisory LLC purchased a new stake in shares of Prologis during the fourth quarter worth $379,000. Planned Solutions Inc. bought a new position in shares of Prologis in the fourth quarter worth $123,000. Finally, Procyon Advisors LLC purchased a new position in shares of Prologis in the fourth quarter valued at $350,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLD. Argus raised their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group upped their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho lowered their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Finally, Royal Bank of Canada decreased their price target on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Five 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. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Prologis Trading Up 1.9 %

Prologis stock traded up $2.25 during trading hours on Friday, reaching $122.68. The company had a trading volume of 3,374,108 shares, compared to its average volume of 3,615,018. The firm has a market cap of $113.58 billion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 2.85 and a beta of 1.06. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.10 and a quick ratio of 0.29. The company has a 50-day moving average price of $113.37 and a 200 day moving average price of $120.02.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.83 earnings per share. Equities analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.13%. Prologis’s dividend payout ratio is currently 112.28%.

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.