Independent Advisor Alliance Purchases 3,690 Shares of Prologis, Inc. (NYSE:PLD)

Independent Advisor Alliance raised its position in Prologis, Inc. (NYSE:PLD) by 32.5% in the third quarter, HoldingsChannel.com reports. The fund owned 15,054 shares of the real estate investment trust’s stock after purchasing an additional 3,690 shares during the quarter. Independent Advisor Alliance’s holdings in Prologis were worth $1,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. ASB Consultores LLC lifted its holdings in Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV raised its position in shares of Prologis by 0.8% in the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after purchasing an additional 87 shares during the period. CX Institutional lifted its stake in shares of Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA boosted its holdings in shares of Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 90 shares during the period. Finally, Destination Wealth Management grew its stake in Prologis by 4.7% in the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 92 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLD. Wells Fargo & Company increased their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Morgan Stanley lifted their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Truist Financial increased their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Finally, Evercore ISI raised their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis Trading Down 1.6 %

NYSE PLD opened at $116.16 on Wednesday. The company has a market cap of $107.58 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 3.05 and a beta of 1.08. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average is $119.27 and its 200 day moving average is $118.61.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 earnings per share. As a group, sell-side analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 116.01%.

About Prologis

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.