StrongBox Wealth LLC Purchases 3,613 Shares of Prologis, Inc. (NYSE:PLD)

StrongBox Wealth LLC boosted its position in shares of Prologis, Inc. (NYSE:PLDGet Rating) by 34.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,006 shares of the real estate investment trust’s stock after purchasing an additional 3,613 shares during the period. StrongBox Wealth LLC’s holdings in Prologis were worth $1,648,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PLD. American National Bank bought a new position in shares of Prologis in the first quarter worth about $26,000. William Allan LLC acquired a new position in shares of Prologis in the fourth quarter valued at approximately $27,000. M&R Capital Management Inc. lifted its position in shares of Prologis by 245.1% in the first quarter. M&R Capital Management Inc. now owns 176 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 125 shares in the last quarter. MCF Advisors LLC bought a new stake in Prologis during the first quarter worth $35,000. Finally, Financial Management Professionals Inc. increased its holdings in shares of Prologis by 43.8% in the first quarter. Financial Management Professionals Inc. now owns 220 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 67 shares during the last quarter. 94.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on PLD shares. Evercore ISI decreased their price target on shares of Prologis from $134.00 to $133.00 and set an “in-line” rating on the stock in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Prologis from $160.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, August 11th. Jefferies Financial Group lowered their price target on shares of Prologis from $174.00 to $146.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Barclays reduced their price objective on shares of Prologis from $190.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, July 21st. Finally, Wolfe Research raised shares of Prologis from a “peer perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Wednesday, August 24th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis has an average rating of “Buy” and an average price target of $173.31.

Prologis Price Performance

NYSE:PLD traded down $0.32 during trading hours on Friday, hitting $108.22. 64,125 shares of the stock traded hands, compared to its average volume of 3,393,843. Prologis, Inc. has a 1 year low of $106.46 and a 1 year high of $174.54. The stock has a 50 day moving average price of $126.98 and a 200 day moving average price of $135.40. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.46. The company has a market cap of $80.12 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.33 and a beta of 0.88.

Prologis (NYSE:PLDGet Rating) last announced its quarterly earnings results on Monday, July 18th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.30). Prologis had a return on equity of 9.85% and a net margin of 75.72%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts forecast that Prologis, Inc. will post 5.17 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $3.16 annualized dividend and a yield of 2.92%. Prologis’s dividend payout ratio (DPR) is presently 63.20%.

About Prologis

(Get Rating)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

See Also

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLDGet Rating).

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.