Merit Financial Group LLC Acquires 3,687 Shares of Prologis, Inc. (NYSE:PLD)

Merit Financial Group LLC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 37.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,538 shares of the real estate investment trust’s stock after purchasing an additional 3,687 shares during the period. Merit Financial Group LLC’s holdings in Prologis were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis during the fourth quarter worth $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis during the fourth quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis during the fourth quarter worth $30,000. REAP Financial Group LLC lifted its position in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 84 shares in the last quarter. Finally, Promus Capital LLC purchased a new stake in shares of Prologis during the fourth quarter worth $34,000. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

Prologis stock opened at $108.91 on Friday. The stock has a 50-day simple moving average of $103.68 and a 200 day simple moving average of $110.41. 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, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The stock has a market capitalization of $101.06 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 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 analysts’ expectations of $1.99 billion. On average, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s payout ratio is 101.00%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLD. Royal Bank of Canada dropped their target price on Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen raised Prologis from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Barclays reduced their price objective on Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Scotiabank raised their target price on Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research note on Monday, May 12th. Finally, BMO Capital Markets lowered their price objective on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.42.

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.