Austin Private Wealth LLC Buys 106 Shares of Prologis, Inc. (NYSE:PLD)

Austin Private Wealth LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,011 shares of the real estate investment trust’s stock after acquiring an additional 106 shares during the quarter. Austin Private Wealth LLC’s holdings in Prologis were worth $268,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. VitalStone Financial LLC bought a new stake in shares of Prologis in the 2nd quarter valued at $27,000. Thompson Investment Management Inc. acquired a new stake in Prologis during the 4th quarter worth about $28,000. DHJJ Financial Advisors Ltd. bought a new position in shares of Prologis in the 3rd quarter worth about $29,000. FinTrust Capital Advisors LLC raised its position in shares of Prologis by 966.7% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 232 shares in the last quarter. Finally, Fairfield Bush & CO. acquired a new position in shares of Prologis in the 2nd quarter valued at about $35,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Up 1.0 %

Shares of NYSE:PLD opened at $130.18 on Friday. The business’s 50 day moving average is $130.56 and its 200 day moving average is $121.69. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The stock has a market cap of $120.42 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 2.58 and a beta of 1.00. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the business posted $1.24 earnings per share. Prologis’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 18th will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 2.95%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Friday, March 15th. Prologis’s dividend payout ratio is presently 116.72%.

Wall Street Analyst Weigh In

PLD has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Scotiabank boosted their target price on shares of Prologis from $134.00 to $143.00 and gave the company a “sector outperform” rating in a research report on Friday, December 15th. Mizuho raised their price target on shares of Prologis from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Barclays dropped their price objective on shares of Prologis from $153.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Robert W. Baird raised their target price on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Four investment 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $141.67.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 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 (115 million square meters) in 19 countries.