Connors Investor Services Inc. Sells 34,105 Shares of Prologis, Inc. (NYSE:PLD)

Connors Investor Services Inc. cut its position in Prologis, Inc. (NYSE:PLD - Free Report) by 44.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,140 shares of the real estate investment trust's stock after selling 34,105 shares during the quarter. Connors Investor Services Inc.'s holdings in Prologis were worth $4,454,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co increased its position in Prologis by 14.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 18,163 shares of the real estate investment trust's stock worth $2,294,000 after acquiring an additional 2,245 shares during the period. World Investment Advisors LLC bought a new position in shares of Prologis during the third quarter worth approximately $989,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Prologis in the third quarter valued at approximately $1,348,000. Destination Wealth Management boosted its stake in shares of Prologis by 121.5% in the third quarter. Destination Wealth Management now owns 4,504 shares of the real estate investment trust's stock valued at $569,000 after buying an additional 2,471 shares during the period. Finally, Tidal Investments LLC grew its position in Prologis by 12.7% during the third quarter. Tidal Investments LLC now owns 200,250 shares of the real estate investment trust's stock worth $25,288,000 after buying an additional 22,516 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.57% of the company's stock.

Prologis Trading Up 2.3 %

Shares of PLD stock traded up $2.41 during trading hours on Friday, hitting $105.49. 4,193,710 shares of the company's stock traded hands, compared to its average volume of 4,138,733. 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 12 month low of $85.35 and a 12 month high of $132.57. The stock has a market cap of $97.79 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The stock's 50 day simple moving average is $107.68 and its 200 day simple moving average is $111.99.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current 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 issued a dividend of $1.01 per share. This is a positive change from Prologis's previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.83%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PLD. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. CJS Securities dropped their target price on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. BMO Capital Markets cut their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, Robert W. Baird lifted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.05.

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.