Prologis, Inc. (NYSE:PLD) Stake Lifted by RMR Wealth Builders

RMR Wealth Builders grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 22.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,633 shares of the real estate investment trust’s stock after buying an additional 487 shares during the period. RMR Wealth Builders’ holdings in Prologis were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PLD. Stolper Co boosted its position in shares of Prologis by 1.5% in the 4th quarter. Stolper Co now owns 15,316 shares of the real estate investment trust’s stock valued at $1,619,000 after purchasing an additional 227 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Prologis by 14.4% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 12,795 shares of the real estate investment trust’s stock valued at $1,352,000 after buying an additional 1,615 shares during the period. Park Avenue Securities LLC grew its stake in Prologis by 2.6% in the fourth quarter. Park Avenue Securities LLC now owns 62,687 shares of the real estate investment trust’s stock valued at $6,626,000 after purchasing an additional 1,572 shares in the last quarter. Community Trust & Investment Co. grew its stake in shares of Prologis by 2.3% in the 4th quarter. Community Trust & Investment Co. now owns 69,925 shares of the real estate investment trust’s stock valued at $7,391,000 after buying an additional 1,605 shares in the last quarter. Finally, Pines Wealth Management LLC bought a new stake in Prologis in the fourth quarter worth approximately $741,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PLD. Mizuho decreased their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Truist Financial dropped their target price on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Scotiabank cut their price target on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.06.

Prologis Price Performance

Shares of PLD stock opened at $111.00 on Friday. The business has a fifty day simple moving average of $110.53 and a 200 day simple moving average of $118.36. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. 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 company has a market cap of $102.80 billion, a P/E ratio of 33.53, a P/E/G ratio of 2.85 and a beta of 1.09.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 earnings per share. On average, sell-side analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Monday, December 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.