Xponance Inc. Raises Position in Prologis, Inc. (NYSE:PLD)

Xponance Inc. raised its holdings in Prologis, Inc. (NYSE:PLD) by 6.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 136,289 shares of the real estate investment trust’s stock after acquiring an additional 8,138 shares during the quarter. Xponance Inc.’s holdings in Prologis were worth $18,167,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PLD. CreativeOne Wealth LLC grew its position in Prologis by 1.5% during the 2nd quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust’s stock worth $680,000 after purchasing an additional 82 shares during the last quarter. SevenOneSeven Capital Management boosted its holdings in shares of Prologis by 2.3% in the fourth quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 86 shares in the last quarter. Family Legacy Inc. boosted its holdings in Prologis by 0.5% during the fourth quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after buying an additional 87 shares in the last quarter. Lockerman Financial Group Inc. boosted its holdings in Prologis by 2.0% during the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after buying an additional 87 shares in the last quarter. Finally, Hixon Zuercher LLC boosted its holdings in Prologis by 0.6% during the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after buying an additional 88 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of research reports. Barclays cut their target price on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Morgan Stanley boosted their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Royal Bank of Canada boosted their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, Mizuho reissued a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Prologis Trading Down 1.7 %

PLD traded down $1.80 during trading on Thursday, hitting $104.69. 5,983,958 shares of the company’s stock were exchanged, compared to its average volume of 3,390,960. The firm has a market cap of $96.84 billion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.00. The stock has a 50 day moving average price of $128.99 and a 200 day moving average price of $122.19. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

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

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.67%. Prologis’s dividend payout ratio is currently 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.