Advocate Group LLC Has $4.62 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Advocate Group LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,638 shares of the real estate investment trust’s stock after selling 284 shares during the period. Advocate Group LLC’s holdings in Prologis were worth $4,617,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. RB Capital Management LLC increased its holdings in Prologis by 14.7% in the first quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock valued at $485,000 after purchasing an additional 385 shares during the period. Blair William & Co. IL boosted its position in shares of Prologis by 5.3% during the 1st quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock worth $3,490,000 after purchasing an additional 1,092 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Prologis by 87.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock worth $546,000 after purchasing an additional 1,580 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of Prologis by 41.8% during the 1st quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock worth $38,952,000 after purchasing an additional 71,112 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its position in shares of Prologis by 38.8% during the 1st quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock worth $336,000 after purchasing an additional 581 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Raymond James raised their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. upgraded shares of Prologis from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $123.00 to $148.00 in a research note on Monday, December 18th. Scotiabank raised their price target on shares of Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a research note on Friday, December 15th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $136.00 price objective on shares of Prologis in a report on Monday, March 18th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.67.

Prologis Trading Up 1.1 %

Shares of NYSE PLD traded up $1.36 during midday trading on Friday, hitting $130.22. 3,676,095 shares of the company traded hands, compared to its average volume of 2,997,395. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50-day moving average price of $130.64 and a 200 day moving average price of $121.75. The firm has a market cap of $120.46 billion, a P/E ratio of 39.58, a P/E/G ratio of 2.58 and a beta of 1.00.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a return on equity of 5.29% and a net margin of 38.13%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm earned $1.24 EPS. The company’s revenue was up 7.8% on a year-over-year basis. As a group, analysts expect that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be paid a dividend of $0.96 per share. The ex-dividend date is Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 2.95%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is presently 116.72%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.