CreativeOne Wealth LLC Acquires 2,522 Shares of Prologis, Inc. (NYSE:PLD)

CreativeOne Wealth LLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 86.7% in the first quarter, HoldingsChannel reports. The firm owned 5,432 shares of the real estate investment trust’s stock after purchasing an additional 2,522 shares during the period. CreativeOne Wealth LLC’s holdings in Prologis were worth $707,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vident Advisory LLC boosted its position in shares of Prologis by 38.6% during the first quarter. Vident Advisory LLC now owns 80,280 shares of the real estate investment trust’s stock valued at $10,454,000 after buying an additional 22,346 shares during the last quarter. Fayez Sarofim & Co boosted its position in shares of Prologis by 0.6% during the first quarter. Fayez Sarofim & Co now owns 62,859 shares of the real estate investment trust’s stock valued at $8,185,000 after buying an additional 359 shares during the last quarter. Mattern Capital Management LLC boosted its position in shares of Prologis by 3.3% during the first quarter. Mattern Capital Management LLC now owns 66,284 shares of the real estate investment trust’s stock valued at $8,632,000 after buying an additional 2,124 shares during the last quarter. Payden & Rygel Investment Group purchased a new position in Prologis in the first quarter worth $25,080,000. Finally, Crewe Advisors LLC purchased a new position in Prologis in the first quarter worth $194,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

NYSE PLD traded up $2.25 during trading on Friday, reaching $122.68. The company’s stock had a trading volume of 3,374,108 shares, compared to its average volume of 3,615,018. The stock has a market capitalization of $113.58 billion, a PE ratio of 35.87, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.10 and a quick ratio of 0.29. The firm has a fifty day moving average of $113.37 and a 200 day moving average of $120.02. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.83 earnings per share. Analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.13%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PLD shares. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. dropped their price target on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Barclays dropped their price target on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Royal Bank of Canada dropped their price target on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Finally, Scotiabank decreased their price objective on Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 16th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price of $129.67.

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.