Truvestments Capital LLC Increases Holdings in Prologis, Inc. (NYSE:PLD)

Truvestments Capital LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 60.8% in the 1st quarter, Holdings Channel reports. The firm owned 1,770 shares of the real estate investment trust’s stock after buying an additional 669 shares during the quarter. Truvestments Capital LLC’s holdings in Prologis were worth $230,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PLD. Valeo Financial Advisors LLC grew its stake in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares in the last quarter. Norges Bank acquired a new stake in Prologis in the fourth quarter valued at approximately $1,074,648,000. Capital World Investors raised its stake in shares of Prologis by 1,252.9% during the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after purchasing an additional 6,765,582 shares during the period. Alphinity Investment Management Pty Ltd acquired a new position in shares of Prologis during the first quarter worth $465,659,000. Finally, Vanguard Group Inc. boosted its stake in shares of Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

PLD stock traded up $2.25 during mid-day trading on Friday, reaching $122.68. The company had a trading volume of 3,374,108 shares, compared to its average volume of 3,615,018. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock has a market capitalization of $113.58 billion, a P/E ratio of 35.87, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a quick ratio of 0.29, a current ratio of 0.10 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $113.37 and its two-hundred day simple moving average is $119.92.

Prologis (NYSE:PLD) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same quarter last year, the company posted $1.83 EPS. Research analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s payout ratio is currently 112.28%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Scotiabank cut their price target 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. Evercore ISI raised their price objective on Prologis from $119.00 to $123.00 and gave the company an “in-line” rating in a research note on Thursday, July 18th. Robert W. Baird dropped their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Argus upped their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday. Five research 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

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.