Sequoia Financial Advisors LLC raised its holdings in Prologis, Inc. (NYSE:PLD – Free Report) by 10.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,166 shares of the real estate investment trust’s stock after purchasing an additional 656 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Prologis were worth $894,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Atwood & Palmer Inc. purchased a new stake in Prologis in the fourth quarter valued at $25,000. GPS Wealth Strategies Group LLC purchased a new stake in Prologis in the first quarter valued at $25,000. Moisand Fitzgerald Tamayo LLC raised its position in Prologis by 4,000.0% in the fourth quarter. Moisand Fitzgerald Tamayo LLC now owns 246 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 240 shares during the period. Financial Management Professionals Inc. raised its holdings in shares of Prologis by 69.2% in the 4th quarter. Financial Management Professionals Inc. now owns 269 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 110 shares during the period. Finally, Armstrong Advisory Group Inc. purchased a new stake in shares of Prologis in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 91.74% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on PLD shares. 92 Resources reiterated a “maintains” rating on shares of Prologis in a report on Wednesday, June 28th. UBS Group boosted their price objective on Prologis from $141.00 to $144.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. 888 reiterated a “maintains” rating on shares of Prologis in a report on Wednesday, June 28th. Barclays cut their price objective on Prologis from $160.00 to $159.00 in a report on Wednesday, June 28th. Finally, The Goldman Sachs Group boosted their price objective on Prologis from $157.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $143.50.
Prologis Trading Down 0.1 %
Prologis (NYSE:PLD – Get Free Report) last released its quarterly earnings data on Tuesday, April 18th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.71). The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.65 billion. Prologis had a return on equity of 5.54% and a net margin of 41.06%. The company’s revenue was up 64.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 earnings per share. As a group, analysts anticipate that Prologis, Inc. will post 5.48 earnings per share for the current fiscal year.
Prologis Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were given a $0.87 dividend. The ex-dividend date was Thursday, June 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.86%. Prologis’s dividend payout ratio (DPR) is presently 105.14%.
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, 2023, 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 (113 million square meters) in 19 countries.
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