Miracle Mile Advisors LLC Sells 4,494 Shares of Prologis, Inc. (NYSE:PLD)

Miracle Mile Advisors LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 26.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,466 shares of the real estate investment trust’s stock after selling 4,494 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Prologis were worth $1,318,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PLD. Coronation Fund Managers Ltd. bought a new stake in Prologis during the 2nd quarter valued at approximately $878,000. Headlands Technologies LLC purchased a new position in Prologis in the 2nd quarter worth approximately $53,000. Oppenheimer Asset Management Inc. raised its holdings in Prologis by 1.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 39,815 shares of the real estate investment trust’s stock worth $4,472,000 after acquiring an additional 381 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in Prologis by 362.9% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 3,930 shares of the real estate investment trust’s stock worth $441,000 after acquiring an additional 3,081 shares during the last quarter. Finally, One Capital Management LLC raised its holdings in Prologis by 770.6% in the 2nd quarter. One Capital Management LLC now owns 37,168 shares of the real estate investment trust’s stock worth $4,174,000 after acquiring an additional 32,899 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PLD has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $124.00 to $123.00 in a research report on Monday, January 6th. Barclays lifted their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Scotiabank cut their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. Finally, BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.06.

Prologis Trading Up 2.7 %

Shares of Prologis stock opened at $108.26 on Wednesday. The company has a market capitalization of $100.27 billion, a P/E ratio of 32.71, a P/E/G ratio of 3.27 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The company has a fifty day moving average of $110.65 and a 200 day moving average of $118.43. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 116.01%.

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.