2,910 Shares in Prologis, Inc. (NYSE:PLD) Acquired by Bright Futures Wealth Management LLC.

Bright Futures Wealth Management LLC. purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,910 shares of the real estate investment trust’s stock, valued at approximately $379,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of Prologis by 380.0% during the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after purchasing an additional 263,649 shares during the last quarter. Janney Capital Management LLC grew its position in Prologis by 18.8% during the 4th quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock worth $3,182,000 after purchasing an additional 3,773 shares during the last quarter. Atalanta Sosnoff Capital LLC purchased a new position in shares of Prologis during the fourth quarter worth about $18,551,000. US Bancorp DE grew its stake in shares of Prologis by 6.5% in the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after purchasing an additional 41,469 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. increased its holdings in shares of Prologis by 255.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after purchasing an additional 11,582 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PLD shares. Barclays boosted their target price on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Robert W. Baird cut their target price on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Argus lifted their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Scotiabank dropped their price target on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Finally, StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average target price of $130.93.

Prologis Stock Performance

Shares of PLD traded down $3.74 during trading hours on Friday, reaching $123.98. 5,728,468 shares of the company’s stock traded hands, compared to its average volume of 3,820,959. The firm has a market capitalization of $114.79 billion, a price-to-earnings ratio of 36.25, a P/E/G ratio of 3.02 and a beta of 1.06. The business’s fifty day simple moving average is $115.08 and its two-hundred day simple moving average is $119.71. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company earned $1.83 earnings per share. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. Analysts predict that Prologis, Inc. will post 5.43 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.10%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio is currently 112.28%.

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.