Miracle Mile Advisors LLC Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Miracle Mile Advisors LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,236 shares of the real estate investment trust’s stock after purchasing an additional 183 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Prologis were worth $1,854,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Kowal Investment Group LLC purchased a new stake in shares of Prologis during the 1st quarter worth about $210,000. Red Door Wealth Management LLC boosted its stake in shares of Prologis by 7.9% during the 1st quarter. Red Door Wealth Management LLC now owns 29,850 shares of the real estate investment trust’s stock worth $3,887,000 after acquiring an additional 2,177 shares in the last quarter. Cornerstone Wealth Group LLC purchased a new stake in shares of Prologis during the 1st quarter worth about $207,000. River Street Advisors LLC boosted its stake in shares of Prologis by 12.8% during the 1st quarter. River Street Advisors LLC now owns 2,178 shares of the real estate investment trust’s stock worth $284,000 after acquiring an additional 247 shares in the last quarter. Finally, Physician Wealth Advisors Inc. boosted its stake in shares of Prologis by 11.4% during the 1st quarter. Physician Wealth Advisors Inc. now owns 1,885 shares of the real estate investment trust’s stock worth $245,000 after acquiring an additional 193 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Down 0.3 %

Prologis stock opened at $111.95 on Tuesday. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a 50 day moving average price of $108.14 and a 200 day moving average price of $121.77. The company has a market capitalization of $103.65 billion, a PE ratio of 32.73, a price-to-earnings-growth ratio of 2.50 and a beta of 1.07.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.43%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PLD shares. Mizuho reduced their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Argus reduced their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Evercore ISI cut their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. lowered their target price on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $129.76.

Prologis 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.