Atticus Wealth Management LLC Raises Stock Position in Prologis, Inc. (NYSE:PLD)

Atticus Wealth Management LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLDGet Rating) by 71.6% during the second quarter, Holdings Channel reports. The firm owned 405 shares of the real estate investment trust’s stock after purchasing an additional 169 shares during the quarter. Atticus Wealth Management LLC’s holdings in Prologis were worth $48,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Highland Capital Management LLC increased its stake in Prologis by 0.3% during the first quarter. Highland Capital Management LLC now owns 18,103 shares of the real estate investment trust’s stock worth $2,923,000 after purchasing an additional 60 shares during the period. Gateway Investment Advisers LLC increased its stake in Prologis by 1.1% during the first quarter. Gateway Investment Advisers LLC now owns 5,780 shares of the real estate investment trust’s stock worth $933,000 after purchasing an additional 62 shares during the period. Financial Management Professionals Inc. increased its stake in Prologis by 43.8% during the first quarter. Financial Management Professionals Inc. now owns 220 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 67 shares during the period. Clean Yield Group increased its stake in Prologis by 1.4% during the first quarter. Clean Yield Group now owns 5,129 shares of the real estate investment trust’s stock worth $828,000 after purchasing an additional 69 shares during the period. Finally, WMS Partners LLC increased its stake in Prologis by 3.9% during the fourth quarter. WMS Partners LLC now owns 2,032 shares of the real estate investment trust’s stock worth $342,000 after purchasing an additional 76 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of analyst reports. Barclays lowered their price objective on Prologis from $190.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, July 21st. Jefferies Financial Group lowered their price objective on Prologis from $174.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. Evercore ISI lowered their price objective on Prologis from $134.00 to $133.00 and set an “in-line” rating for the company in a research report on Monday. Raymond James lowered their price objective on Prologis from $190.00 to $160.00 in a research report on Thursday, July 21st. Finally, Wells Fargo & Company upped their price target on Prologis from $160.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, August 11th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $173.31.

Prologis Price Performance

PLD stock opened at $108.55 on Thursday. The company has a market capitalization of $80.37 billion, a P/E ratio of 21.71, a PEG ratio of 2.42 and a beta of 0.88. Prologis, Inc. has a twelve month low of $106.46 and a twelve month high of $174.54. The business has a 50 day simple moving average of $127.17 and a 200-day simple moving average of $135.68. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.46.

Prologis (NYSE:PLDGet Rating) last released its quarterly earnings results on Monday, July 18th. The real estate investment trust reported $0.82 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.30). Prologis had a return on equity of 9.85% and a net margin of 75.72%. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the company earned $1.01 EPS. Prologis’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities analysts anticipate that Prologis, Inc. will post 5.17 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.91%. The ex-dividend date is Wednesday, September 14th. Prologis’s payout ratio is 63.20%.

Prologis Profile

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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

Further Reading

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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