Crewe Advisors LLC Makes New Investment in Prologis, Inc. (NYSE:PLD)

Crewe Advisors LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,489 shares of the real estate investment trust’s stock, valued at approximately $194,000.

Several other large investors have also recently modified their holdings of the stock. Compagnie Lombard Odier SCmA purchased a new stake in Prologis during the 4th quarter valued at $80,000. Salem Investment Counselors Inc. purchased a new stake in shares of Prologis during the fourth quarter worth about $37,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Prologis by 4.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 223,532 shares of the real estate investment trust’s stock worth $29,797,000 after purchasing an additional 9,180 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Prologis by 5.9% in the fourth quarter. Pacer Advisors Inc. now owns 317,850 shares of the real estate investment trust’s stock worth $42,369,000 after purchasing an additional 17,684 shares during the last quarter. Finally, Oak Ridge Investments LLC purchased a new position in Prologis during the 4th quarter valued at about $896,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 2.2 %

Shares of NYSE:PLD traded down $2.67 on Thursday, hitting $120.41. 3,402,059 shares of the company traded hands, compared to its average volume of 3,759,669. The stock has a 50 day simple moving average of $113.15 and a 200-day simple moving average of $120.09. The company has a quick ratio of 0.29, a current ratio of 0.10 and a debt-to-equity ratio of 0.52. The company has a market cap of $111.48 billion, a PE ratio of 35.21, a PEG ratio of 2.98 and a beta of 1.06. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the firm posted $1.83 earnings per share. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. As a group, research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.19%. Prologis’s dividend payout ratio is 112.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on Prologis from $119.00 to $123.00 and gave the stock an “in-line” rating in a research report on Thursday, July 18th. UBS Group cut their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Mizuho reduced their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Scotiabank lowered their price objective on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a report on Thursday, May 16th. Finally, Argus upped their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $129.67.

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.