Dover Advisors LLC Increases Stake in Prologis, Inc. (NYSE:PLD)

Dover Advisors LLC lifted its stake in Prologis, Inc. (NYSE:PLD) by 8.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,763 shares of the real estate investment trust’s stock after buying an additional 427 shares during the quarter. Dover Advisors LLC’s holdings in Prologis were worth $644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis during the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis in the fourth quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in Prologis during the fourth quarter valued at approximately $30,000. REAP Financial Group LLC grew its holdings in Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 84 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Prologis in the 4th quarter worth approximately $34,000. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada lowered their target price on Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Wells Fargo & Company lowered their price objective on shares of Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. CJS Securities dropped their price objective on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Robert W. Baird decreased their target price on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Finally, Evercore ISI lowered their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $120.42.

Prologis Trading Down 1.2%

Shares of NYSE PLD opened at $107.18 on Friday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a market cap of $99.45 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.70 and a beta of 1.25. The business’s 50 day moving average price is $104.61 and its 200-day moving average price is $110.16.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. On average, sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio is presently 101.00%.

Prologis 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.