Accelerate Investment Advisors LLC Purchases New Position in Prologis, Inc. (NYSE:PLD)

Accelerate Investment Advisors LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 1st quarter, Holdings Channel reports. The fund purchased 1,802 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis during the 4th quarter valued at approximately $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new stake in shares of Prologis during the 4th quarter valued at approximately $30,000. REAP Financial Group LLC grew its holdings in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 84 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Prologis during the 4th quarter worth approximately $34,000. 93.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of Prologis to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Wolfe Research cut shares of Prologis from an “outperform” rating to a “peer perform” rating in a research report on Monday, April 21st. Evercore ISI decreased their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research report on Thursday, April 17th. Robert W. Baird decreased their price target on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, Truist Financial decreased their price target on shares of Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.42.

Prologis Stock Down 1.7%

Shares of NYSE PLD opened at $105.03 on Wednesday. The firm has a market cap of $97.46 billion, a PE ratio of 26.26, a P/E/G ratio of 2.71 and a beta of 1.25. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company’s fifty day simple moving average is $105.09 and its 200 day simple moving average is $109.95. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio is presently 101.00%.

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.