Prologis, Inc. (NYSE:PLD) Stake Boosted by Avestar Capital LLC

Avestar Capital LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 17.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,362 shares of the real estate investment trust’s stock after acquiring an additional 637 shares during the period. Avestar Capital LLC’s holdings in Prologis were worth $551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Swedbank AB increased its holdings in Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after buying an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after acquiring an additional 43,235 shares in the last quarter. Sunflower Bank N.A. acquired a new position in shares of Prologis during the 3rd quarter worth $249,000. Cetera Advisors LLC raised its holdings in shares of Prologis by 118.7% during the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after purchasing an additional 20,623 shares in the last quarter. Finally, Abundance Wealth Counselors acquired a new stake in shares of Prologis in the 2nd quarter valued at $973,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $116.16 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50 day simple moving average of $119.27 and a 200 day simple moving average of $118.61. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a market capitalization of $107.58 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.05 and a beta of 1.08.

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

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.31%. Prologis’s payout ratio is 116.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PLD shares. Scotiabank cut 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. Wells Fargo & Company increased their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. reduced 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. Bank of America reiterated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis Company 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.