Prologis, Inc. (NYSE:PLD) Stock Holdings Reduced by Smith Salley Wealth Management

Smith Salley Wealth Management cut its position in shares of Prologis, Inc. (NYSE:PLD) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,931 shares of the real estate investment trust’s stock after selling 186 shares during the period. Smith Salley Wealth Management’s holdings in Prologis were worth $944,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PLD. ASB Consultores LLC lifted its stake in Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 86 shares during the last quarter. CX Institutional raised its holdings in shares of Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 88 shares in the last quarter. DT Investment Partners LLC lifted its stake in shares of Prologis by 9.8% in the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 93 shares during the last quarter. Carmel Capital Partners LLC boosted its holdings in Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after purchasing an additional 94 shares in the last quarter. Finally, Yoder Wealth Management Inc. increased its position in Prologis by 4.0% during the third quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock worth $316,000 after buying an additional 97 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE:PLD opened at $109.51 on Friday. The business’s 50 day moving average is $110.34 and its 200-day moving average is $118.29. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $101.43 billion, a PE ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. Sell-side analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Truist Financial dropped their price target on shares of Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday. Mizuho decreased their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and dropped their target price for the stock from $124.00 to $123.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $128.67.

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.