Prologis, Inc. (NYSE:PLD) Shares Sold by Ascent Group LLC

Ascent Group LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,800 shares of the real estate investment trust’s stock after selling 115 shares during the period. Ascent Group LLC’s holdings in Prologis were worth $2,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Optimum Investment Advisors acquired a new position in shares of Prologis during the first quarter valued at approximately $26,000. True Wealth Design LLC purchased a new position in Prologis in the 4th quarter valued at $27,000. JFS Wealth Advisors LLC boosted its stake in Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 168 shares during the last quarter. Clear Investment Research LLC grew its holdings in shares of Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 158 shares in the last quarter. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Prologis in the fourth quarter valued at about $38,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on PLD shares. UBS Group dropped their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 price target on shares of Prologis in a report on Monday, July 15th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Royal Bank of Canada dropped their target price on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Finally, Argus raised their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Five equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.67.

Prologis Trading Up 1.0 %

Shares of PLD stock traded up $1.27 during trading hours on Monday, hitting $123.95. The company had a trading volume of 2,368,968 shares, compared to its average volume of 3,747,387. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.10 and a quick ratio of 0.29. The company’s fifty day moving average is $113.37 and its 200 day moving average is $119.83. The stock has a market capitalization of $114.76 billion, a PE ratio of 36.24, a price-to-earnings-growth ratio of 2.90 and a beta of 1.06.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the company earned $1.83 earnings per share. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. Research analysts expect that Prologis, Inc. will post 5.43 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, June 17th. 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 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.