Ameriflex Group Inc. Invests $371,000 in Prologis, Inc. (NYSE:PLD)

Ameriflex Group Inc. purchased a new stake in Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,514 shares of the real estate investment trust’s stock, valued at approximately $371,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Prologis in the 4th quarter valued at approximately $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis during the fourth quarter worth $27,000. Centricity Wealth Management LLC purchased a new position in Prologis in the 4th quarter valued at $30,000. Whipplewood Advisors LLC acquired a new position in Prologis in the 4th quarter valued at $34,000. Finally, Promus Capital LLC acquired a new position in Prologis in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PLD shares. Robert W. Baird lowered their target price on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Scotiabank lifted their price objective on Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a report on Monday, May 12th. CJS Securities cut their target price on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Finally, Wells Fargo & Company reduced their price target on Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.42.

Prologis Trading Down 0.9%

NYSE:PLD opened at $104.13 on Monday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $104.26 and a 200-day simple moving average of $110.82. The company has a market capitalization of $96.62 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.88%. Prologis’s dividend payout ratio is currently 101.00%.

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.