Sage Mountain Advisors LLC Has $541,000 Stake in Prologis, Inc. (NYSE:PLD)

Sage Mountain Advisors LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 9.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,838 shares of the real estate investment trust’s stock after acquiring an additional 436 shares during the period. Sage Mountain Advisors LLC’s holdings in Prologis were worth $541,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PLD. Aviva PLC boosted its stake in Prologis by 36.6% during the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock valued at $73,481,000 after purchasing an additional 186,187 shares during the period. Alley Investment Management Company LLC boosted its stake in Prologis by 102.8% during the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock valued at $12,111,000 after purchasing an additional 54,914 shares during the period. Allstate Corp boosted its stake in Prologis by 111.7% during the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock valued at $7,877,000 after purchasing an additional 39,321 shares during the period. First Citizens Bank & Trust Co. boosted its stake in Prologis by 1,451.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust’s stock valued at $3,486,000 after purchasing an additional 29,170 shares during the period. Finally, Truist Financial Corp boosted its stake in Prologis by 9.3% during the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock valued at $33,232,000 after purchasing an additional 25,229 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $108.52 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market capitalization of $100.70 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The business has a 50 day simple moving average of $107.37 and a 200 day simple moving average of $109.60.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. On average, sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.72%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLD. Mizuho decreased their target price on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Morgan Stanley decreased their target price on Prologis to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Wolfe Research downgraded Prologis from an “outperform” rating to a “peer perform” rating in a research report on Monday, April 21st. Royal Bank Of Canada reduced their price objective on Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Finally, Scotiabank raised their price objective on Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research report on Monday, May 12th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $120.47.

Prologis 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.