Wahed Invest LLC Buys 291 Shares of Prologis, Inc. (NYSE:PLD)

Wahed Invest LLC lifted its stake in Prologis, Inc. (NYSE:PLD) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,736 shares of the real estate investment trust’s stock after buying an additional 291 shares during the period. Wahed Invest LLC’s holdings in Prologis were worth $2,403,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PLD. South Plains Financial Inc. bought a new stake in shares of Prologis during the fourth quarter valued at approximately $379,000. Mercer Global Advisors Inc. ADV boosted its stake in Prologis by 67.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 181,620 shares of the real estate investment trust’s stock worth $19,197,000 after buying an additional 73,138 shares in the last quarter. Keel Point LLC increased its holdings in Prologis by 7.7% in the 4th quarter. Keel Point LLC now owns 2,986 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 213 shares during the period. Headland Capital LLC acquired a new position in shares of Prologis in the 4th quarter valued at $4,387,000. Finally, Adelante Capital Management LLC raised its stake in shares of Prologis by 1,470.5% in the 4th quarter. Adelante Capital Management LLC now owns 1,400,344 shares of the real estate investment trust’s stock valued at $148,017,000 after buying an additional 1,311,179 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

PLD opened at $103.15 on Friday. The company has a market capitalization of $95.62 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 2.70 and a beta of 1.20. The business’s 50-day moving average price is $108.03 and its two-hundred day moving average price is $112.10. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. Equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.92%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 101.00%.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays dropped their price target on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a research report on Wednesday. Morgan Stanley cut their target price on Prologis to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Robert W. Baird boosted their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.05.

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.