Western Wealth Management LLC Buys 803 Shares of Prologis, Inc. (NYSE:PLD)

Western Wealth Management LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,478 shares of the real estate investment trust’s stock after acquiring an additional 803 shares during the period. Western Wealth Management LLC’s holdings in Prologis were worth $1,930,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its holdings in Prologis by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after buying an additional 1,034,211 shares during the period. FMR LLC lifted its stake in shares of Prologis by 1.2% during the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after buying an additional 197,693 shares during the period. Morgan Stanley lifted its stake 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. Northern Trust Corp lifted its stake in shares of Prologis by 0.7% during the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after buying an additional 92,036 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Prologis by 2.3% during the third quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after purchasing an additional 268,667 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

PLD traded down $0.87 on Friday, reaching $103.82. The company had a trading volume of 1,603,239 shares, compared to its average volume of 3,366,668. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The stock has a market capitalization of $96.04 billion, a PE ratio of 30.61, a P/E/G ratio of 2.14 and a beta of 1.00. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $128.45 and a 200-day moving average price of $122.07.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a net margin of 38.73% and a return on equity of 5.49%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company posted $1.24 earnings per share. Prologis’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Prologis, Inc. will post 5.47 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.70%. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Royal Bank of Canada boosted their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Evercore ISI decreased their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday. Finally, Mizuho reissued a “neutral” rating and issued a $130.00 target price on shares of Prologis in a research note on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Prologis 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.