Prologis, Inc. (NYSE:PLD) Shares Bought by AdvisorNet Financial Inc

AdvisorNet Financial Inc grew its holdings in shares of Prologis, Inc. (NYSE:PLDFree Report) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 911 shares of the real estate investment trust’s stock after purchasing an additional 90 shares during the quarter. AdvisorNet Financial Inc’s holdings in Prologis were worth $121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Norges Bank acquired a new stake in Prologis during the 4th quarter worth $980,759,000. Morgan Stanley boosted its stake in Prologis by 48.0% during the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after purchasing an additional 4,729,040 shares during the last quarter. Moneta Group Investment Advisors LLC acquired a new stake in Prologis during the 4th quarter worth $232,205,000. Legal & General Group Plc boosted its stake in Prologis by 22.4% during the 4th quarter. Legal & General Group Plc now owns 11,130,145 shares of the real estate investment trust’s stock worth $1,254,702,000 after purchasing an additional 2,038,187 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Prologis during the 3rd quarter worth $185,164,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.4 %

Shares of NYSE:PLD opened at $126.09 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $116.64 billion, a PE ratio of 38.43, a price-to-earnings-growth ratio of 2.56 and a beta of 1.00. The firm’s 50-day moving average is $130.61 and its two-hundred day moving average is $121.85. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis (NYSE:PLDGet Free Report) last issued its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $1.24 earnings per share. Analysts predict that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.05%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio is presently 116.72%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. raised shares of Prologis from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $123.00 to $148.00 in a research report on Monday, December 18th. Morgan Stanley boosted their price target on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, Mizuho reissued a “neutral” rating and set a $130.00 price target on shares of Prologis in a research report on Tuesday. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.67.

Read Our Latest Report on Prologis

Prologis Company Profile

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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