Procyon Advisors LLC Purchases 941 Shares of Prologis, Inc. (NYSE:PLD)

Procyon Advisors LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 19.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,658 shares of the real estate investment trust’s stock after acquiring an additional 941 shares during the period. Procyon Advisors LLC’s holdings in Prologis were worth $598,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PLD. ASB Consultores LLC increased its holdings in shares of Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 86 shares in the last quarter. CX Institutional grew its position in shares of Prologis by 2.7% in the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 88 shares during the period. DT Investment Partners LLC increased its stake in Prologis by 9.8% during the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 93 shares in the last quarter. Carmel Capital Partners LLC raised its holdings in Prologis by 2.6% during the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after buying an additional 94 shares during the period. Finally, Yoder Wealth Management Inc. lifted its stake in Prologis by 4.0% in the third quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 97 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wolfe Research dropped their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday. BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Price Performance

NYSE:PLD opened at $109.51 on Friday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The firm has a market capitalization of $101.43 billion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 2.85 and a beta of 1.09. The stock’s 50 day moving average price is $110.34 and its two-hundred day moving average price is $118.29. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company posted $1.30 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. On average, analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is 116.01%.

Prologis Company Profile

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.