Park Avenue Securities LLC Increases Holdings in Prologis, Inc. (NYSE:PLD)

Park Avenue Securities LLC grew its holdings in Prologis, Inc. (NYSE:PLD) by 10.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 67,332 shares of the real estate investment trust’s stock after acquiring an additional 6,578 shares during the quarter. Park Avenue Securities LLC’s holdings in Prologis were worth $7,562,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Optimum Investment Advisors purchased a new position in Prologis in the first quarter valued at approximately $26,000. True Wealth Design LLC purchased a new position in shares of Prologis in the 4th quarter valued at $27,000. JFS Wealth Advisors LLC grew its position in shares of Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 168 shares during the last quarter. Clear Investment Research LLC raised its stake in Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 158 shares in the last quarter. Finally, Private Wealth Management Group LLC purchased a new stake in Prologis in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock traded down $0.90 on Wednesday, reaching $120.15. 2,967,036 shares of the stock were exchanged, compared to its average volume of 3,761,510. The firm has a market capitalization of $111.24 billion, a PE ratio of 35.32, a PEG ratio of 3.02 and a beta of 1.06. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The business has a fifty day moving average price of $115.69 and a two-hundred day moving average price of $119.56. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.83 EPS. As a group, research analysts anticipate that Prologis, Inc. will post 5.43 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.20%. The ex-dividend date was Monday, June 17th. Prologis’s payout ratio is 112.28%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Robert W. Baird cut their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Mizuho lowered their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. JPMorgan Chase & Co. reduced their price target on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Finally, Barclays raised their price objective on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.60.

About Prologis

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.