Beacon Pointe Advisors LLC Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Beacon Pointe Advisors LLC reduced its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,921 shares of the real estate investment trust's stock after selling 2,999 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Prologis were worth $2,317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Murphy & Mullick Capital Management Corp purchased a new position in shares of Prologis in the 4th quarter worth about $26,000. Crowley Wealth Management Inc. purchased a new position in Prologis in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC bought a new position in shares of Prologis during the 4th quarter valued at approximately $30,000. Whipplewood Advisors LLC purchased a new stake in shares of Prologis during the 4th quarter worth approximately $34,000. Finally, Promus Capital LLC purchased a new stake in shares of Prologis during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Truist Financial upped their price objective on Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research note on Monday, January 27th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. BMO Capital Markets cut their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, UBS Group lifted their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.05.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.57% of the company's stock.

Prologis Price Performance

Shares of PLD stock traded up $2.41 during trading on Friday, hitting $105.49. The company had a trading volume of 4,193,710 shares, compared to its average volume of 4,141,227. The stock's 50-day moving average is $107.68 and its two-hundred day moving average is $111.89. The stock has a market capitalization of $97.89 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. As a group, analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.83%. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is 101.00%.

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.