Altfest L J & Co. Inc. Buys New Holdings in Prologis, Inc. (NYSE:PLD)

Altfest L J & Co. Inc. purchased a new stake in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,678 shares of the real estate investment trust’s stock, valued at approximately $490,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLD. Procyon Advisors LLC bought a new stake in shares of Prologis in the 4th quarter valued at approximately $350,000. Planned Solutions Inc. bought a new stake in shares of Prologis in the 4th quarter worth about $123,000. IFG Advisory LLC acquired a new stake in shares of Prologis during the 4th quarter worth about $379,000. Highland Capital Management LLC lifted its holdings in Prologis by 0.7% during the 4th quarter. Highland Capital Management LLC now owns 33,880 shares of the real estate investment trust’s stock valued at $4,516,000 after purchasing an additional 250 shares during the last quarter. Finally, Columbia Trust Co 01012016 grew its stake in Prologis by 16.0% during the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after buying an additional 723 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on PLD shares. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Scotiabank increased their price objective on shares of Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a report on Friday, December 15th. Evercore ISI reiterated an “in-line” rating and set a $136.00 target price on shares of Prologis in a research report on Monday, March 18th. Finally, Barclays dropped their price objective on shares of Prologis from $153.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.67.

Prologis Stock Performance

Shares of NYSE PLD traded up $0.74 during mid-day trading on Thursday, reaching $129.60. 967,975 shares of the company were exchanged, compared to its average volume of 3,090,941. The company’s 50-day simple moving average is $130.52 and its 200-day simple moving average is $121.64. The stock has a market capitalization of $119.89 billion, a P/E ratio of 39.42, a P/E/G ratio of 2.50 and a beta of 1.00. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50.

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

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 18th will be issued a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Friday, March 15th. Prologis’s payout ratio is currently 116.72%.

Prologis Profile

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.