Banco Bilbao Vizcaya Argentaria S.A. Has $5.43 Million Position in Prologis, Inc. (NYSE:PLD)

Banco Bilbao Vizcaya Argentaria S.A. cut its position in Prologis, Inc. (NYSE:PLD - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,041 shares of the real estate investment trust's stock after selling 5,342 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Prologis were worth $5,434,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Phoenix Financial Ltd. raised its holdings in Prologis by 1.0% in the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock worth $955,000 after purchasing an additional 86 shares during the period. Principle Wealth Partners LLC raised its holdings in Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock worth $349,000 after purchasing an additional 92 shares during the period. Black Diamond Financial LLC raised its holdings in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock worth $449,000 after purchasing an additional 93 shares during the period. Berkshire Bank raised its holdings in Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock worth $443,000 after purchasing an additional 95 shares during the period. Finally, CreativeOne Wealth LLC raised its holdings in Prologis by 1.7% in the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock worth $642,000 after purchasing an additional 100 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays dropped their price objective on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a report on Wednesday. BMO Capital Markets dropped their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Robert W. Baird raised their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Finally, Scotiabank restated a "sector underperform" rating and set a $97.00 price objective (down from $133.00) on shares of Prologis in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and an average price target of $122.05.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company's stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is owned by company insiders.

Prologis Stock Performance

Shares of PLD traded up $0.77 during midday trading on Thursday, reaching $102.97. The stock had a trading volume of 1,781,411 shares, compared to its average volume of 4,142,349. The firm has a 50 day simple moving average of $108.38 and a 200-day simple moving average of $112.22. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The firm has a market cap of $95.45 billion, a PE ratio of 25.75, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a $1.01 dividend. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.92%. Prologis's dividend payout ratio is presently 101.00%.

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.