Procyon Advisors LLC Has $598,000 Stock Position in Prologis, Inc. (NYSE:PLD)

Procyon Advisors LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 19.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,658 shares of the real estate investment trust’s stock after acquiring an additional 941 shares during the period. Procyon Advisors LLC’s holdings in Prologis were worth $598,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter worth approximately $27,000. Dunhill Financial LLC boosted its stake in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the period. Sunbelt Securities Inc. grew its position in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares in the last quarter. Hara Capital LLC bought a new position in Prologis during the 3rd quarter worth $48,000. Finally, Coastline Trust Co acquired a new position in Prologis in the 3rd quarter valued at $52,000. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on PLD. Mizuho decreased their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and dropped their target price for the company from $124.00 to $123.00 in a research report on Monday, January 6th. Raymond James reiterated an “outperform” rating and set a $125.00 price target (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Barclays boosted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.67.

Prologis Trading Down 1.3 %

PLD opened at $109.51 on Friday. The company’s 50 day moving average price is $110.34 and its two-hundred day moving average price is $118.29. The firm has a market capitalization of $101.43 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 earnings per share. As a group, research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.51%. Prologis’s payout ratio is 116.01%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.