Captrust Financial Advisors Buys 114,100 Shares of Prologis, Inc. (NYSE:PLD)

Captrust Financial Advisors lifted its position in Prologis, Inc. (NYSE:PLD) by 188.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 174,783 shares of the real estate investment trust’s stock after purchasing an additional 114,100 shares during the quarter. Captrust Financial Advisors’ holdings in Prologis were worth $22,760,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFG Advisory LLC bought a new stake in Prologis during the 4th quarter worth approximately $379,000. Procyon Advisors LLC bought a new position in shares of Prologis in the fourth quarter valued at about $350,000. Pinnacle Associates Ltd. grew its holdings in Prologis by 0.5% during the 4th quarter. Pinnacle Associates Ltd. now owns 62,853 shares of the real estate investment trust’s stock worth $8,378,000 after acquiring an additional 321 shares during the last quarter. AdvisorNet Financial Inc increased its position in Prologis by 11.0% in the 4th quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 90 shares in the last quarter. Finally, Covenant Asset Management LLC raised its stake in shares of Prologis by 14.9% in the fourth quarter. Covenant Asset Management LLC now owns 2,584 shares of the real estate investment trust’s stock worth $344,000 after acquiring an additional 335 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PLD shares. Scotiabank lowered their price target on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a report on Thursday, May 16th. Robert W. Baird dropped their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. decreased their price target on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. UBS Group lowered their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Argus increased their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.93.

Prologis Stock Up 1.1 %

Shares of Prologis stock traded up $1.42 on Tuesday, hitting $125.37. The company had a trading volume of 955,304 shares, compared to its average volume of 3,728,132. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.10 and a quick ratio of 0.29. The stock has a 50-day moving average of $113.61 and a 200-day moving average of $119.78. The firm has a market capitalization of $116.07 billion, a P/E ratio of 36.24, a P/E/G ratio of 2.90 and a beta of 1.06.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company posted $1.83 earnings per share. Prologis’s revenue for the quarter was down 18.1% on a year-over-year basis. Research analysts predict that Prologis, Inc. will post 5.43 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio is presently 112.28%.

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.