21,296 Shares in Prologis, Inc. (NYSE:PLD) Bought by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC bought a new position in Prologis, Inc. (NYSE:PLD) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 21,296 shares of the real estate investment trust’s stock, valued at approximately $2,381,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in 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 buying an additional 15,078 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Prologis by 74.8% during the fourth quarter. Proficio Capital Partners LLC now owns 3,277 shares of the real estate investment trust’s stock valued at $346,000 after acquiring an additional 1,402 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Prologis by 5.7% during the fourth quarter. HighTower Advisors LLC now owns 179,534 shares of the real estate investment trust’s stock valued at $18,977,000 after acquiring an additional 9,606 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Prologis by 228.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,253 shares of the real estate investment trust’s stock valued at $344,000 after acquiring an additional 2,264 shares during the last quarter. Finally, Choate Investment Advisors raised its stake in shares of Prologis by 10.4% during the fourth quarter. Choate Investment Advisors now owns 7,668 shares of the real estate investment trust’s stock valued at $811,000 after acquiring an additional 725 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of PLD opened at $109.05 on Monday. The firm has a market cap of $101.19 billion, a PE ratio of 27.26, a P/E/G ratio of 2.77 and a beta of 1.23. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $107.21 and a two-hundred day simple moving average of $109.58. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.70%. Prologis’s dividend payout ratio (DPR) is 101.00%.

Analyst Ratings Changes

PLD has been the subject of a number of research reports. Scotiabank increased their price target on shares of Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research note on Monday, May 12th. Barclays lowered their price objective on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. CJS Securities lowered their price objective on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Evercore ISI lowered their price objective on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. Finally, Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.53.

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.