Centaurus Financial Inc. Buys Shares of 890 Prologis, Inc. (NYSE:PLD)

Centaurus Financial Inc. bought a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 3rd quarter, Holdings Channel reports. The firm bought 890 shares of the real estate investment trust’s stock, valued at approximately $112,000.

Several other hedge funds have also recently added to or reduced their stakes in PLD. LRI Investments LLC acquired a new position in shares of Prologis during the 1st quarter valued at $153,000. Cetera Investment Advisers increased its position in shares of Prologis by 107.9% during the 1st quarter. Cetera Investment Advisers now owns 159,311 shares of the real estate investment trust’s stock valued at $20,745,000 after purchasing an additional 82,682 shares during the period. Cetera Advisors LLC grew its holdings in shares of Prologis by 118.7% in the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock worth $4,947,000 after acquiring an additional 20,623 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Prologis in the 1st quarter worth $49,000. Finally, Bright Futures Wealth Management LLC. acquired a new position in shares of Prologis in the 1st quarter worth $379,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Scotiabank decreased their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Wells Fargo & Company lifted their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. decreased their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $131.25.

Prologis Stock Performance

Shares of PLD stock opened at $117.80 on Friday. 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, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The stock’s 50-day moving average is $118.87 and its two-hundred day moving average is $118.60. The firm has a market cap of $109.10 billion, a P/E ratio of 35.59, a PEG ratio of 3.45 and a beta of 1.08.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.26%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is currently 116.01%.

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.