Daymark Wealth Partners LLC Buys Shares of 1,942 Prologis, Inc. (NYSE:PLD)

Daymark Wealth Partners LLC bought a new stake in Prologis, Inc. (NYSE:PLD) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,942 shares of the real estate investment trust’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Brighton Jones LLC grew its stake in 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 purchasing an additional 15,078 shares during the last quarter. Empowered Funds LLC grew its stake in 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 purchasing an additional 5,042 shares during the last quarter. Principle Wealth Partners LLC grew its stake in Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after purchasing an additional 92 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Prologis in the fourth quarter valued at about $72,000. Finally, Quent Capital LLC grew its stake in Prologis by 12.5% in the fourth quarter. Quent Capital LLC now owns 1,502 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 167 shares during the last quarter. 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. Wolfe Research lowered Prologis from an “outperform” rating to a “peer perform” rating in a research note on Monday, April 21st. Evercore ISI dropped their price target on Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley dropped their price target on Prologis to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada dropped their price target on Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. Finally, Wall Street Zen upgraded Prologis from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.42.

Prologis Price Performance

Shares of NYSE PLD opened at $108.46 on Thursday. The business’s 50 day moving average price is $103.98 and its 200 day moving average price is $110.29. The firm has a market cap of $100.64 billion, a P/E ratio of 27.12, a P/E/G ratio of 2.70 and a beta of 1.25. 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.

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

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Tuesday, June 17th. Prologis’s payout ratio is presently 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.