Prologis, Inc. (NYSE:PLD) Shares Acquired by Atlantic Family Wealth LLC

Atlantic Family Wealth LLC increased its position in Prologis, Inc. (NYSE:PLD) by 7.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,046 shares of the real estate investment trust’s stock after acquiring an additional 142 shares during the period. Atlantic Family Wealth LLC’s holdings in Prologis were worth $229,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Aviva PLC lifted its holdings in shares of Prologis by 36.6% during the fourth 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 last quarter. Alley Investment Management Company LLC lifted its holdings in shares of Prologis by 102.8% during the first 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 last quarter. Allstate Corp lifted its holdings in shares of Prologis by 111.7% during the fourth 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 last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of Prologis by 1,451.2% during the first 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 last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Prologis by 9.3% during the first 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 last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $110.23 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.19 and a quick ratio of 0.41. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The stock’s 50-day moving average is $107.48 and its two-hundred day moving average is $109.77. The firm has a market cap of $102.29 billion, a P/E ratio of 29.87, a PEG ratio of 2.77 and a beta of 1.23.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm posted $1.34 EPS. The business’s revenue was up 8.8% compared to the same quarter last year. Analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Tuesday, June 17th. Prologis’s dividend payout ratio is 109.49%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Evercore ISI reduced their target price on Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. Barclays reduced their target price on Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Robert W. Baird dropped their price target on Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. BMO Capital Markets dropped their price target on Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Finally, Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an “overweight” rating in a research report on Sunday, July 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $120.74.

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.