Bright Futures Wealth Management LLC. Makes New Investment in Prologis, Inc. (NYSE:PLD)

Bright Futures Wealth Management LLC. acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) in the first quarter, Holdings Channel reports. The firm acquired 2,910 shares of the real estate investment trust’s stock, valued at approximately $379,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PLD. Valeo Financial Advisors LLC raised its holdings in shares of Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Norges Bank purchased a new position in Prologis in the fourth quarter valued at about $1,074,648,000. Capital World Investors raised its holdings in Prologis by 1,252.9% in the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after purchasing an additional 6,765,582 shares in the last quarter. Swedbank AB purchased a new stake in shares of Prologis during the first quarter valued at about $596,614,000. Finally, Alphinity Investment Management Pty Ltd bought a new stake in shares of Prologis in the 1st quarter valued at about $465,659,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD stock traded down $3.74 during mid-day trading on Friday, reaching $123.98. The company’s stock had a trading volume of 5,728,468 shares, compared to its average volume of 3,820,959. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $115.08 and its two-hundred day moving average is $119.71. The stock has a market cap of $114.79 billion, a PE ratio of 36.25, a P/E/G ratio of 3.02 and a beta of 1.06. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) 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 last year, the business earned $1.83 earnings per share. The firm’s revenue was down 18.1% compared to the same quarter last year. Equities research analysts expect that Prologis, Inc. will post 5.43 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.10%. Prologis’s payout ratio is 112.28%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLD. Barclays raised their price objective on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Mizuho decreased their target price on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Scotiabank reduced their price target on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. UBS Group dropped their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Evercore ISI raised their target price on shares of Prologis from $119.00 to $123.00 and gave the stock an “in-line” rating in a report on Thursday, July 18th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $130.93.

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.