Pallas Capital Advisors LLC Boosts Stake in Prologis, Inc. (NYSE:PLD)

Pallas Capital Advisors LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 1.2% during the first quarter, Holdings Channel reports. The institutional investor owned 26,413 shares of the real estate investment trust’s stock after purchasing an additional 306 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Prologis were worth $2,953,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PLD. Brighton Jones LLC boosted its stake in shares of Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after buying an additional 15,078 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Prologis in the fourth quarter valued at approximately $100,000. Apollon Wealth Management LLC boosted its stake in shares of Prologis by 2.1% in the fourth quarter. Apollon Wealth Management LLC now owns 18,152 shares of the real estate investment trust’s stock valued at $1,919,000 after buying an additional 380 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Prologis by 34.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 14,341 shares of the real estate investment trust’s stock valued at $1,516,000 after buying an additional 3,667 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Prologis by 14.5% in the fourth quarter. Empowered Funds LLC now owns 39,797 shares of the real estate investment trust’s stock valued at $4,207,000 after buying an additional 5,042 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PLD shares. CJS Securities decreased their price target on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Wolfe Research cut Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. Scotiabank lifted their price objective on Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a report on Monday, May 12th. Robert W. Baird reduced their price objective on Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Finally, Morgan Stanley reduced their price objective on Prologis to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.42.

Prologis Stock Performance

NYSE PLD opened at $108.95 on Tuesday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The stock has a market cap of $101.10 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The business has a fifty day moving average of $103.61 and a 200-day moving average of $110.31. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

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

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.71%. Prologis’s payout ratio is currently 101.00%.

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.