Colton Groome Financial Advisors LLC Increases Position in Prologis, Inc. (NYSE:PLD)

Colton Groome Financial Advisors LLC increased its position in Prologis, Inc. (NYSE:PLD) by 23.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,910 shares of the real estate investment trust’s stock after purchasing an additional 2,055 shares during the period. Colton Groome Financial Advisors LLC’s holdings in Prologis were worth $1,454,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in Prologis in the fourth quarter valued at approximately $980,759,000. Morgan Stanley boosted its position in shares of Prologis by 48.0% during the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after buying an additional 4,729,040 shares during the period. Moneta Group Investment Advisors LLC acquired a new position in shares of Prologis during the fourth quarter worth approximately $232,205,000. Legal & General Group Plc raised its holdings in Prologis by 22.4% during the fourth quarter. Legal & General Group Plc now owns 11,130,145 shares of the real estate investment trust’s stock worth $1,254,702,000 after purchasing an additional 2,038,187 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in Prologis during the third quarter worth approximately $185,164,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 1.7 %

NYSE:PLD traded down $1.82 during trading hours on Thursday, hitting $104.67. 6,310,203 shares of the stock traded hands, compared to its average volume of 3,391,285. The firm has a 50 day moving average price of $128.99 and a 200 day moving average price of $122.19. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The firm has a market cap of $96.82 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.29 and a beta of 1.00.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the firm earned $1.24 earnings per share. Prologis’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.67%. Prologis’s dividend payout ratio is 116.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PLD shares. Mizuho reissued a “neutral” rating and set a $130.00 target price on shares of Prologis in a report on Tuesday, April 2nd. Evercore ISI dropped their target price on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Royal Bank of Canada upped their price target on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Raymond James upped their price target on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $140.00.

Prologis Company 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.