Dover Advisors LLC Acquires 427 Shares of Prologis, Inc. (NYSE:PLD)

Dover Advisors LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 8.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,763 shares of the real estate investment trust’s stock after purchasing an additional 427 shares during the period. Dover Advisors LLC’s holdings in Prologis were worth $644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PLD. Brighton Jones LLC increased its stake in shares of Prologis by 629.0% during 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 in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Prologis during the fourth quarter valued at approximately $72,000. Certuity LLC bought a new position in shares of Prologis during the fourth quarter valued at approximately $225,000. Gladstone Institutional Advisory LLC increased its stake in shares of Prologis by 26.4% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 5,090 shares of the real estate investment trust’s stock valued at $538,000 after purchasing an additional 1,062 shares in the last quarter. Finally, Avestar Capital LLC grew its holdings in shares of Prologis by 22.3% during the fourth quarter. Avestar Capital LLC now owns 5,336 shares of the real estate investment trust’s stock valued at $564,000 after buying an additional 974 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 1.2%

Shares of Prologis stock opened at $107.18 on Friday. The company’s fifty day simple moving average is $104.61 and its 200-day simple moving average is $110.16. The stock has a market capitalization of $99.45 billion, a PE ratio of 26.79, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

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

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.77%. Prologis’s payout ratio is 101.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barclays cut their price target on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Wolfe Research cut shares of Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. Evercore ISI cut their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday, April 17th. BMO Capital Markets cut their price target on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, CJS Securities cut their price target on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.42.

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.