Pines Wealth Management LLC Makes New Investment in Prologis, Inc. (NYSE:PLD)

Pines Wealth Management LLC bought a new stake in Prologis, Inc. (NYSE:PLD) in the fourth quarter, HoldingsChannel reports. The firm bought 7,152 shares of the real estate investment trust’s stock, valued at approximately $741,000.

Several other hedge funds also recently made changes to their positions in PLD. Semmax Financial Advisors Inc. purchased a new position in Prologis during the second quarter valued at $27,000. Dunhill Financial LLC increased its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares in the last quarter. Hara Capital LLC purchased a new position in Prologis during the 3rd quarter valued at about $48,000. Finally, Coastline Trust Co bought a new stake in Prologis during the third quarter worth about $52,000. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PLD shares. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Truist Financial cut their target price on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Scotiabank lowered their price target on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.06.

Prologis Stock Up 2.7 %

Shares of Prologis stock opened at $108.26 on Wednesday. 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’s 50 day moving average is $110.65 and its 200 day moving average is $118.43. The company has a market cap of $100.27 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09.

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

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is 116.01%.

Prologis 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.