Western Wealth Management LLC Has $1.93 Million Position in Prologis, Inc. (NYSE:PLD)

Western Wealth Management LLC increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,478 shares of the real estate investment trust’s stock after acquiring an additional 803 shares during the quarter. Western Wealth Management LLC’s holdings in Prologis were worth $1,930,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its holdings in shares of Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after acquiring an additional 1,034,211 shares during the last quarter. FMR LLC grew its holdings in Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after buying an additional 197,693 shares in the last quarter. Morgan Stanley grew its holdings in Prologis by 48.0% in the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after buying an additional 4,729,040 shares in the last quarter. Northern Trust Corp lifted its position in shares of Prologis by 0.7% during the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after acquiring an additional 92,036 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Prologis by 2.3% during the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after acquiring an additional 268,667 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PLD. Mizuho restated a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Royal Bank of Canada upped their price objective on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Robert W. Baird upped their price objective on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Barclays lowered their target price on Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Evercore ISI lowered their target price on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Prologis Stock Performance

NYSE:PLD traded down $0.87 during trading hours on Friday, reaching $103.82. The stock had a trading volume of 1,603,239 shares, compared to its average volume of 3,366,668. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. The stock has a 50 day simple moving average of $128.45 and a 200 day simple moving average of $122.07. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The stock has a market cap of $96.04 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a return on equity of 5.49% and a net margin of 38.73%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the prior year, the business earned $1.24 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts forecast that Prologis, Inc. will post 5.47 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.70%. Prologis’s payout ratio is 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.