Prologis, Inc. (NYSE:PLD) Holdings Boosted by Allworth Financial LP

Posted by on Mar 24th, 2023

Allworth Financial LP boosted its holdings in Prologis, Inc. (NYSE:PLD – Get Rating) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,754 shares of the real estate investment trust’s stock after acquiring an additional 419 shares during the period. Allworth Financial LP’s holdings in Prologis were worth $1,438,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Financial Management Professionals Inc. lifted its holdings in Prologis by 69.2% in the fourth quarter. Financial Management Professionals Inc. now owns 269 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 110 shares during the last quarter. Dakota Community Bank & Trust NA bought a new position in Prologis in the fourth quarter worth about $39,000. HHM Wealth Advisors LLC lifted its holdings in Prologis by 115.3% in the third quarter. HHM Wealth Advisors LLC now owns 351 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 188 shares during the last quarter. MV Capital Management Inc. raised its holdings in shares of Prologis by 98.9% during the third quarter. MV Capital Management Inc. now owns 360 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 179 shares during the last quarter. Finally, American National Bank raised its holdings in shares of Prologis by 113.4% during the fourth quarter. American National Bank now owns 397 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 211 shares during the last quarter. Institutional investors own 75.84% of the company’s stock.

Prologis Trading Up 0.0 %

Prologis stock opened at $114.15 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $105.41 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 3.03 and a beta of 0.99. Prologis, Inc. has a 1 year low of $98.03 and a 1 year high of $174.54. The firm’s 50 day moving average price is $124.31 and its two-hundred day moving average price is $116.46.

Prologis (NYSE:PLD – Get Rating) last posted its quarterly earnings results on Wednesday, January 18th. The real estate investment trust reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.03. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.46 billion. Prologis had a net margin of 56.33% and a return on equity of 7.71%. The firm’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 earnings per share. On average, research analysts predict that Prologis, Inc. will post 5.47 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.05%. This is a boost from Prologis’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Thursday, March 16th. Prologis’s payout ratio is presently 80.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PLD shares. JPMorgan Chase & Co. cut Prologis from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $124.00 to $130.00 in a report on Friday, December 16th. The Goldman Sachs Group started coverage on Prologis in a report on Tuesday. They set a “buy” rating and a $147.00 price target on the stock. Barclays cut their price target on Prologis from $162.00 to $160.00 and set an “overweight” rating on the stock in a report on Tuesday, January 31st. Truist Financial lifted their price target on Prologis from $135.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, January 26th. Finally, Wells Fargo & Company lifted their price target on Prologis to $141.00 in a report on Wednesday, December 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.85.

About Prologis

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Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.

Further Reading

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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