Cornerstone Advisors LLC Purchases 5,800 Shares of Prologis, Inc. (NYSE:PLD)

Cornerstone Advisors LLC raised its position in Prologis, Inc. (NYSE:PLD) by 263.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,000 shares of the real estate investment trust’s stock after buying an additional 5,800 shares during the period. Cornerstone Advisors LLC’s holdings in Prologis were worth $1,010,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. American Capital Advisory LLC bought a new stake in Prologis during the second quarter worth $26,000. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the 2nd quarter worth $27,000. Central Valley Advisors LLC purchased a new position in shares of Prologis in the 2nd quarter worth about $29,000. Sunbelt Securities Inc. grew its position in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Prologis during the second quarter worth about $31,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Scotiabank lowered their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Barclays increased their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Evercore ISI boosted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Stock Down 0.5 %

PLD opened at $113.97 on Friday. The firm has a market capitalization of $105.56 billion, a P/E ratio of 34.43, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a fifty day moving average price of $120.04 and a 200-day moving average price of $118.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. Equities research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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, 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.