Great Valley Advisor Group Inc. Acquires 3,532 Shares of Prologis, Inc. (NYSE:PLD)

Great Valley Advisor Group Inc. raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 20.4% in the 3rd quarter, Holdings Channel reports. The firm owned 20,804 shares of the real estate investment trust’s stock after purchasing an additional 3,532 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Prologis were worth $2,627,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Nicolet Advisory Services LLC raised its position in shares of Prologis by 4.1% during the third quarter. Nicolet Advisory Services LLC now owns 4,460 shares of the real estate investment trust’s stock worth $544,000 after acquiring an additional 174 shares during the last quarter. Icon Wealth Advisors LLC increased its position in Prologis by 274.9% during the 3rd quarter. Icon Wealth Advisors LLC now owns 35,369 shares of the real estate investment trust’s stock valued at $4,466,000 after purchasing an additional 25,935 shares during the period. Raymond James Trust N.A. raised its holdings in Prologis by 15.2% during the 3rd quarter. Raymond James Trust N.A. now owns 27,959 shares of the real estate investment trust’s stock worth $3,531,000 after purchasing an additional 3,685 shares during the last quarter. First County Bank CT acquired a new position in shares of Prologis in the 3rd quarter worth approximately $280,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Prologis by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after purchasing an additional 441,841 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a research report on Monday, August 5th. 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. Bank of America restated a “neutral” rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Eight research 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Stock Up 1.6 %

PLD stock opened at $115.80 on Monday. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The stock has a market cap of $107.25 billion, a P/E ratio of 34.98, a P/E/G ratio of 3.00 and a beta of 1.08. The stock’s fifty day simple moving average is $119.75 and its two-hundred day simple moving average is $118.48. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last posted its quarterly 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). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS. Analysts expect that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.32%. Prologis’s dividend payout ratio (DPR) is presently 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.