Bleakley Financial Group LLC Has $1.86 Million Stake in Prologis, Inc. (NYSE:PLD)

Bleakley Financial Group LLC grew its holdings in Prologis, Inc. (NYSE:PLD) by 36.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,615 shares of the real estate investment trust’s stock after purchasing an additional 4,407 shares during the period. Bleakley Financial Group LLC’s holdings in Prologis were worth $1,857,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp acquired a new position in Prologis in the 4th quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new position in Prologis in the 4th quarter worth about $27,000. REAP Financial Group LLC increased its position in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 84 shares during the last quarter. Olde Wealth Management LLC acquired a new position in Prologis in the 1st quarter worth about $43,000. Finally, Cornerstone Planning Group LLC increased its position in Prologis by 63.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PLD shares. Wolfe Research lowered Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. Evercore ISI lowered their price objective on Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday, April 17th. Scotiabank increased their price objective on Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a report on Monday, May 12th. Wall Street Zen lowered Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Finally, Barclays lowered their price objective on Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $120.47.

Prologis Stock Performance

PLD opened at $108.52 on Wednesday. The firm has a market capitalization of $100.70 billion, a P/E ratio of 27.13, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23. The stock’s 50 day moving average price is $107.37 and its two-hundred day moving average price is $109.60. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.45% and a net margin of 44.59%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis’s dividend 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.