Wealth Enhancement Advisory Services LLC Increases Stake in Prologis, Inc. (NYSE:PLD)

Wealth Enhancement Advisory Services LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,108 shares of the real estate investment trust’s stock after purchasing an additional 1,898 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Prologis were worth $5,085,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PLD. Semmax Financial Advisors Inc. bought a new position in shares of Prologis during the second quarter valued at approximately $27,000. Sunbelt Securities Inc. grew its position in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the last quarter. Dunhill Financial LLC increased its stake in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Hara Capital LLC bought a new stake in shares of Prologis during the third quarter worth $48,000. Finally, Coastline Trust Co purchased a new stake in shares of Prologis during the third quarter valued at $52,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLD. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Mizuho dropped their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Raymond James reaffirmed an “outperform” rating and set a $125.00 target price (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lowered their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $129.06.

Prologis Price Performance

NYSE PLD opened at $105.37 on Tuesday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The firm’s fifty day simple moving average is $110.77 and its two-hundred day simple moving average is $118.46. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $97.59 billion, a P/E ratio of 31.83, a P/E/G ratio of 3.27 and a beta of 1.09.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the business posted $1.30 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is presently 116.01%.

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.