FORA Capital LLC Invests $417,000 in Prologis, Inc. (NYSE:PLD)

FORA Capital LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,945 shares of the real estate investment trust’s stock, valued at approximately $417,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Prologis by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 48,108 shares of the real estate investment trust’s stock worth $5,085,000 after purchasing an additional 1,898 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Prologis by 3.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 19,706 shares of the real estate investment trust’s stock worth $2,083,000 after buying an additional 712 shares during the period. RMR Wealth Builders boosted its position in Prologis by 22.7% during the 4th quarter. RMR Wealth Builders now owns 2,633 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 487 shares in the last quarter. Czech National Bank grew its holdings in shares of Prologis by 6.5% during the 4th quarter. Czech National Bank now owns 200,813 shares of the real estate investment trust’s stock worth $21,226,000 after acquiring an additional 12,195 shares during the period. Finally, Green Alpha Advisors LLC raised its position in shares of Prologis by 1.5% in the 4th quarter. Green Alpha Advisors LLC now owns 10,320 shares of the real estate investment trust’s stock worth $1,091,000 after acquiring an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLD. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Wolfe Research downgraded shares of Prologis from an “outperform” rating to a “peer perform” rating in a research report on Monday, April 21st. CJS Securities lowered their price target on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. UBS Group upped their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Evercore ISI lowered their target price on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.68.

Prologis Price Performance

PLD opened at $106.97 on Friday. The company’s 50-day simple moving average is $105.95 and its two-hundred day simple moving average is $111.43. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The stock has a market capitalization of $99.26 billion, a P/E ratio of 26.74, a P/E/G ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio is 101.00%.

About Prologis

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.