White Knight Strategic Wealth Advisors LLC Buys 1,233 Shares of Prologis, Inc. (NYSE:PLD)

White Knight Strategic Wealth Advisors LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 34.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,770 shares of the real estate investment trust’s stock after acquiring an additional 1,233 shares during the quarter. White Knight Strategic Wealth Advisors LLC’s holdings in Prologis were worth $504,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PLD. Grassi Investment Management grew its stake in shares of Prologis by 1.0% during the 4th quarter. Grassi Investment Management now owns 254,325 shares of the real estate investment trust’s stock valued at $26,882,000 after acquiring an additional 2,400 shares during the period. Merit Financial Group LLC boosted its stake in Prologis by 303.9% in the 4th quarter. Merit Financial Group LLC now owns 9,851 shares of the real estate investment trust’s stock worth $1,041,000 after purchasing an additional 7,412 shares during the period. HB Wealth Management LLC boosted its stake in Prologis by 7.7% in the 4th quarter. HB Wealth Management LLC now owns 13,550 shares of the real estate investment trust’s stock worth $1,432,000 after purchasing an additional 967 shares during the period. Royal Fund Management LLC bought a new position in Prologis in the 4th quarter worth approximately $1,469,000. Finally, Perpetual Ltd boosted its stake in Prologis by 38.5% in the 4th quarter. Perpetual Ltd now owns 288,800 shares of the real estate investment trust’s stock worth $30,526,000 after purchasing an additional 80,244 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent analyst reports. Mizuho dropped their price target on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. UBS Group upped their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Robert W. Baird dropped their price target on Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Finally, Evercore ISI dropped their price target on Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.42.

Prologis Stock Performance

NYSE:PLD opened at $108.73 on Wednesday. The stock’s fifty day moving average is $104.76 and its 200 day moving average is $111.04. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The firm has a market capitalization of $100.89 billion, a PE ratio of 27.18, a PEG ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.72%. Prologis’s payout ratio is presently 101.00%.

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.