Prologis, Inc. (NYSE:PLD) Stake Decreased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,107 shares of the real estate investment trust’s stock after selling 174 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Prologis were worth $2,760,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PLD. Coronation Fund Managers Ltd. bought a new stake in shares of Prologis during the second quarter valued at about $878,000. Headlands Technologies LLC bought a new stake in shares of Prologis during the 2nd quarter worth about $53,000. Fiduciary Group LLC lifted its stake in shares of Prologis by 7.5% in the 2nd quarter. Fiduciary Group LLC now owns 3,858 shares of the real estate investment trust’s stock worth $433,000 after acquiring an additional 270 shares during the period. Westover Capital Advisors LLC bought a new position in shares of Prologis in the second quarter valued at approximately $334,000. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Prologis by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 39,815 shares of the real estate investment trust’s stock valued at $4,472,000 after acquiring an additional 381 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 1.7 %

Shares of PLD traded up $1.78 during trading hours on Monday, reaching $105.37. The company’s stock had a trading volume of 5,774,323 shares, compared to its average volume of 4,385,279. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market cap of $97.59 billion, a price-to-earnings ratio of 31.83, a P/E/G ratio of 3.27 and a beta of 1.09. The company has a 50 day moving average of $110.94 and a two-hundred day moving average of $118.50. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.64%. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLD. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Truist Financial lowered their target price on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Mizuho reduced their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Scotiabank dropped their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $129.06.

Prologis Company 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.