Venture Visionary Partners LLC boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,434 shares of the real estate investment trust’s stock after buying an additional 644 shares during the quarter. Venture Visionary Partners LLC’s holdings in Prologis were worth $1,106,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. CWM LLC grew its position in Prologis by 43.1% during the first quarter. CWM LLC now owns 1,994 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 601 shares during the period. Janney Montgomery Scott LLC grew its position in Prologis by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 340,720 shares of the real estate investment trust’s stock valued at $36,116,000 after buying an additional 17,059 shares during the period. Clarius Group LLC grew its position in Prologis by 4.0% during the first quarter. Clarius Group LLC now owns 6,281 shares of the real estate investment trust’s stock valued at $666,000 after buying an additional 241 shares during the period. Capital Investment Advisors LLC grew its position in Prologis by 12.9% during the first quarter. Capital Investment Advisors LLC now owns 11,275 shares of the real estate investment trust’s stock valued at $1,195,000 after buying an additional 1,287 shares during the period. Finally, Red Door Wealth Management LLC lifted its holdings in Prologis by 24.8% during the first quarter. Red Door Wealth Management LLC now owns 10,479 shares of the real estate investment trust’s stock valued at $1,118,000 after purchasing an additional 2,084 shares in the last quarter. Institutional investors own 94.07% of the company’s stock.
Several equities analysts have weighed in on the stock. TheStreet downgraded shares of Prologis from a “b” rating to a “c+” rating in a report on Friday, March 19th. Morgan Stanley lifted their price target on shares of Prologis from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Monday. BTIG Research lifted their price target on shares of Prologis from $117.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, April 22nd. Evercore ISI raised shares of Prologis from an “in-line” rating to an “outperform” rating and set a $121.00 price target on the stock in a report on Wednesday, January 27th. Finally, Wells Fargo & Company boosted their target price on shares of Prologis from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $119.17.
Prologis (NYSE:PLD) last announced its earnings results on Sunday, April 18th. The real estate investment trust reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.08. Prologis had a net margin of 38.21% and a return on equity of 4.67%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $992.53 million. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, analysts anticipate that Prologis, Inc. will post 3.77 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Wednesday, June 16th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, June 15th. Prologis’s dividend payout ratio is currently 76.13%.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.
Featured Story: What is meant by holder of record?
Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD).
Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.