Great Valley Advisor Group Inc. Has $2.63 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Great Valley Advisor Group Inc. grew its position in shares of Prologis, Inc. (NYSE:PLD) by 20.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,804 shares of the real estate investment trust’s stock after acquiring an additional 3,532 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Prologis were worth $2,627,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. SVB Wealth LLC lifted its position in Prologis by 18.8% during the 1st quarter. SVB Wealth LLC now owns 11,547 shares of the real estate investment trust’s stock worth $1,504,000 after buying an additional 1,831 shares in the last quarter. Captrust Financial Advisors raised its holdings in Prologis by 188.0% during the first quarter. Captrust Financial Advisors now owns 174,783 shares of the real estate investment trust’s stock worth $22,760,000 after acquiring an additional 114,100 shares in the last quarter. Sweeney & Michel LLC acquired a new position in Prologis during the first quarter valued at approximately $2,812,000. B. Riley Wealth Advisors Inc. grew its stake in Prologis by 48.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 20,792 shares of the real estate investment trust’s stock valued at $2,708,000 after purchasing an additional 6,780 shares in the last quarter. Finally, Levin Capital Strategies L.P. increased its position in shares of Prologis by 3.7% during the 1st quarter. Levin Capital Strategies L.P. now owns 76,899 shares of the real estate investment trust’s stock worth $10,014,000 after purchasing an additional 2,708 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PLD. Morgan Stanley raised their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Wells Fargo & Company boosted their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Finally, Truist Financial upped their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis Stock Up 1.6 %

PLD stock opened at $115.80 on Monday. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. 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 stock has a market capitalization of $107.25 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 3.00 and a beta of 1.08. The business’s fifty day moving average price is $119.75 and its two-hundred day moving average price is $118.48.

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

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 116.01%.

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.