McGlone Suttner Wealth Management Inc. Grows Position in Prologis, Inc. (NYSE:PLD)

McGlone Suttner Wealth Management Inc. increased its holdings in Prologis, Inc. (NYSE:PLD) by 3.8% in the fourth quarter, Holdings Channel reports. The fund owned 2,833 shares of the real estate investment trust’s stock after purchasing an additional 103 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Prologis were worth $378,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PLD. RB Capital Management LLC lifted its position in shares of Prologis by 14.7% during the first quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 385 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Prologis by 5.3% during the first quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock valued at $3,490,000 after buying an additional 1,092 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Prologis by 87.7% during the first quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock valued at $546,000 after buying an additional 1,580 shares during the last quarter. Baird Financial Group Inc. lifted its position in shares of Prologis by 41.8% during the first quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock valued at $38,952,000 after buying an additional 71,112 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its holdings in shares of Prologis by 38.8% during the first quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 581 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE:PLD traded up $1.32 during midday trading on Thursday, reaching $130.18. 3,676,079 shares of the company’s stock traded hands, compared to its average volume of 3,136,057. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a market cap of $120.42 billion, a P/E ratio of 39.57, a PEG ratio of 2.50 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The company has a fifty day simple moving average of $130.56 and a two-hundred day simple moving average of $121.69.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 EPS. Equities analysts predict that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 18th will be issued a $0.96 dividend. The ex-dividend date is Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 2.95%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is presently 116.72%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PLD shares. Mizuho upped their price objective on shares of Prologis from $125.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Raymond James upped their price objective on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Robert W. Baird increased their price target on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. Finally, StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $141.67.

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.