Icon Wealth Advisors LLC Raises Holdings in Prologis, Inc. (NYSE:PLD)

Icon Wealth Advisors LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 274.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,369 shares of the real estate investment trust’s stock after purchasing an additional 25,935 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Prologis were worth $4,466,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PLD. Raymond James Trust N.A. raised its holdings in shares of Prologis by 15.2% in the 3rd quarter. Raymond James Trust N.A. now owns 27,959 shares of the real estate investment trust’s stock valued at $3,531,000 after buying an additional 3,685 shares during the period. First County Bank CT acquired a new position in Prologis in the 3rd quarter valued at about $280,000. Charles Schwab Investment Management Inc. increased its stake in Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after purchasing an additional 441,841 shares during the period. L & S Advisors Inc lifted its position in shares of Prologis by 41.7% during the third quarter. L & S Advisors Inc now owns 27,789 shares of the real estate investment trust’s stock worth $3,509,000 after purchasing an additional 8,184 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Prologis by 24.1% in the third quarter. LPL Financial LLC now owns 814,914 shares of the real estate investment trust’s stock valued at $102,907,000 after purchasing an additional 158,211 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PLD shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Truist Financial upped their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Morgan Stanley lifted their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Evercore ISI raised their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Trading Down 0.5 %

PLD opened at $113.97 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The business’s 50 day moving average is $120.04 and its two-hundred day moving average is $118.24. The firm has a market cap of $105.56 billion, a price-to-earnings ratio of 34.43, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 earnings per share. On average, research analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.37%. Prologis’s dividend payout ratio (DPR) is 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.