Capital Investment Advisors LLC lifted its position in Prologis, Inc. (NYSE:PLD) by 12.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,275 shares of the real estate investment trust’s stock after acquiring an additional 1,287 shares during the period. Capital Investment Advisors LLC’s holdings in Prologis were worth $1,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. JJJ Advisors Inc. lifted its stake in shares of Prologis by 512.2% in the 4th quarter. JJJ Advisors Inc. now owns 251 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. Lountzis Asset Management LLC acquired a new stake in shares of Prologis in the 4th quarter valued at about $27,000. Vantage Consulting Group Inc acquired a new stake in shares of Prologis in the 4th quarter valued at about $27,000. MPS Loria Financial Planners LLC acquired a new stake in Prologis during the 4th quarter worth approximately $28,000. Finally, Black Swift Group LLC acquired a new stake in Prologis during the 4th quarter worth approximately $30,000. 94.07% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on PLD. Wells Fargo & Company raised their price objective on Prologis from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday. TheStreet cut Prologis from a “b” rating to a “c+” rating in a report on Friday, March 19th. Morgan Stanley lifted their target price on Prologis from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Monday. Raymond James began coverage on Prologis in a research report on Thursday, April 22nd. They issued a “strong-buy” rating and a $125.00 price objective on the stock. Finally, Evercore ISI raised Prologis from an “in-line” rating to an “outperform” rating and set a $121.00 price objective on the stock in a research report on Wednesday, January 27th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $119.17.
Prologis (NYSE:PLD) last issued its earnings results on Sunday, April 18th. The real estate investment trust reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.08. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $992.53 million. Prologis had a return on equity of 4.67% and a net margin of 38.21%. Prologis’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 earnings per share. Analysts expect that Prologis, Inc. will post 3.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th will be given a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, June 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. Prologis’s dividend payout ratio (DPR) is 76.13%.
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.
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