Cohen Klingenstein LLC Has $1.89 Million Stake in Prologis, Inc. (NYSE:PLD)

Cohen Klingenstein LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,853 shares of the real estate investment trust’s stock after selling 647 shares during the quarter. Cohen Klingenstein LLC’s holdings in Prologis were worth $1,887,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sanibel Captiva Trust Company Inc. lifted its stake in shares of Prologis by 6.0% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 4,902 shares of the real estate investment trust’s stock worth $518,000 after acquiring an additional 278 shares during the period. Merit Financial Group LLC lifted its position in shares of Prologis by 303.9% in the 4th quarter. Merit Financial Group LLC now owns 9,851 shares of the real estate investment trust’s stock worth $1,041,000 after purchasing an additional 7,412 shares during the period. Avanza Fonder AB bought a new stake in shares of Prologis in the 4th quarter valued at $7,510,000. Procyon Advisors LLC increased its position in shares of Prologis by 19.9% during the fourth quarter. Procyon Advisors LLC now owns 5,658 shares of the real estate investment trust’s stock worth $598,000 after buying an additional 941 shares during the period. Finally, Empirical Asset Management LLC raised its stake in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 52,963 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 1.3 %

PLD stock opened at $109.51 on Friday. The stock’s 50 day moving average is $110.47 and its 200-day moving average is $118.31. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The firm has a market capitalization of $101.43 billion, a PE ratio of 33.09, a P/E/G ratio of 2.85 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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 company had revenue of $1.90 billion for 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%. Prologis’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.30 earnings per share. Sell-side analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. 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 Analyst Weigh In

A number of brokerages have commented on PLD. Mizuho cut their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday. Barclays increased their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.67.

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.