CapWealth Advisors LLC Takes $226,000 Position in Prologis, Inc. (NYSE:PLD)

CapWealth Advisors LLC purchased a new stake in Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,695 shares of the real estate investment trust’s stock, valued at approximately $226,000.

Several other hedge funds also recently made changes to their positions in the stock. Thompson Investment Management Inc. purchased a new position in Prologis during the fourth quarter worth about $28,000. FinTrust Capital Advisors LLC grew its position in Prologis by 966.7% during the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 232 shares in the last quarter. Fairfield Bush & CO. purchased a new position in Prologis during the second quarter worth about $35,000. Qube Research & Technologies Ltd grew its position in Prologis by 102.4% during the third quarter. Qube Research & Technologies Ltd now owns 318 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 13,518 shares in the last quarter. Finally, Salem Investment Counselors Inc. purchased a new position in Prologis during the fourth quarter worth about $37,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Down 2.3 %

NYSE PLD traded down $2.41 on Thursday, hitting $104.08. The company’s stock had a trading volume of 2,818,155 shares, compared to its average volume of 3,347,919. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. The company’s 50-day simple moving average is $128.99 and its 200 day simple moving average is $122.19. The firm has a market cap of $96.28 billion, a P/E ratio of 31.86, a PEG ratio of 2.29 and a beta of 1.00.

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

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.69%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is 116.72%.

Analyst Upgrades and Downgrades

PLD has been the subject of several recent analyst reports. Raymond James boosted their target price on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. Barclays dropped their price target on Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday. Evercore ISI dropped their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday. Robert W. Baird lifted their price target on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 23rd. Finally, Morgan Stanley lifted their price target on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Four equities 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. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.40.

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.