Good Life Advisors LLC Has $1.30 Million Stake in Prologis, Inc. (NYSE:PLD)

Good Life Advisors LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 5.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,731 shares of the real estate investment trust’s stock after buying an additional 499 shares during the quarter. Good Life Advisors LLC’s holdings in Prologis were worth $1,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. RB Capital Management LLC grew its holdings in Prologis by 14.7% in the 1st quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 385 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Prologis by 5.3% during the 1st quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock worth $3,490,000 after purchasing an additional 1,092 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Prologis by 87.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock worth $546,000 after purchasing an additional 1,580 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Prologis by 41.8% during the 1st quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock worth $38,952,000 after purchasing an additional 71,112 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in shares of Prologis by 38.8% during the 1st quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock worth $336,000 after purchasing an additional 581 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 1.1 %

Shares of PLD traded up $1.36 during trading hours on Thursday, hitting $130.22. The stock had a trading volume of 3,676,058 shares, compared to its average volume of 3,135,705. The firm has a market capitalization of $120.46 billion, a P/E ratio of 39.46, a price-to-earnings-growth ratio of 2.50 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The firm has a 50 day simple moving average of $130.52 and a 200-day simple moving average of $121.64.

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

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is 116.72%.

Wall Street Analyst Weigh In

PLD has been the subject of several research analyst reports. Barclays cut their price objective on Prologis from $153.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday. Evercore ISI reissued an “in-line” rating and issued a $136.00 target price on shares of Prologis in a research note on Monday, March 18th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. JPMorgan Chase & Co. upgraded Prologis from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $123.00 to $148.00 in a report on Monday, December 18th. Finally, Mizuho boosted their price target on Prologis from $125.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.67.

About Prologis

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.