Tidal Investments LLC Raises Position in Prologis, Inc. (NYSE:PLD)

Tidal Investments LLC grew its position in Prologis, Inc. (NYSE:PLD) by 43.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 286,993 shares of the real estate investment trust’s stock after buying an additional 86,743 shares during the period. Tidal Investments LLC’s holdings in Prologis were worth $30,335,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in Prologis in the fourth quarter worth about $26,000. Crowley Wealth Management Inc. purchased a new position in Prologis in the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new position in Prologis in the fourth quarter worth about $30,000. Promus Capital LLC purchased a new position in shares of Prologis during the fourth quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Prologis during the fourth quarter valued at approximately $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLD has been the subject of several research reports. CJS Securities decreased their price objective on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Truist Financial decreased their price objective on shares of Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a report on Monday, May 5th. Evercore ISI decreased their price objective on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Scotiabank boosted their price objective on shares of Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.84.

Prologis Stock Performance

PLD opened at $110.56 on Friday. The firm has a market cap of $102.59 billion, a P/E ratio of 27.64, a PEG ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a 50 day simple moving average of $104.90 and a two-hundred day simple moving average of $111.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.65%. Prologis’s payout ratio is currently 101.00%.

About Prologis

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.