Axxcess Wealth Management LLC Sells 353 Shares of Prologis, Inc. (NYSE:PLD)

Axxcess Wealth Management LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,945 shares of the real estate investment trust’s stock after selling 353 shares during the period. Axxcess Wealth Management LLC’s holdings in Prologis were worth $774,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in shares of Prologis by 380.0% during the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after buying an additional 263,649 shares in the last quarter. Janney Capital Management LLC lifted its stake in shares of Prologis by 18.8% in the 4th quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock valued at $3,182,000 after purchasing an additional 3,773 shares during the period. Atalanta Sosnoff Capital LLC acquired a new position in Prologis during the 4th quarter worth approximately $18,551,000. US Bancorp DE raised its stake in Prologis by 6.5% during the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after buying an additional 41,469 shares during the period. Finally, Desjardins Global Asset Management Inc. raised its stake in shares of Prologis by 255.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after purchasing an additional 11,582 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of PLD stock traded up $2.25 on Friday, reaching $122.68. 3,373,903 shares of the company were exchanged, compared to its average volume of 3,756,973. 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 $113.58 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 2.91 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.10. The business has a 50-day moving average price of $113.15 and a 200 day moving average price of $120.09.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The business’s revenue for the quarter was down 18.1% compared to the same quarter last year. Equities research analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLD. Robert W. Baird reduced their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Evercore ISI raised their price target on Prologis from $119.00 to $123.00 and gave the stock an “in-line” rating in a report on Thursday, July 18th. Argus increased their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has 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 price target of $129.67.

Prologis 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.