Cresset Asset Management LLC Lowers Stock Position in Prologis, Inc. (NYSE:PLD)

Cresset Asset Management LLC decreased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 47.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,174 shares of the real estate investment trust's stock after selling 34,783 shares during the quarter. Cresset Asset Management LLC's holdings in Prologis were worth $4,035,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Empirical Asset Management LLC boosted its position in Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock valued at $7,249,000 after buying an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. boosted its position in Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock worth $94,391,000 after buying an additional 25,266 shares during the period. Aviva PLC increased its position in Prologis by 36.6% in the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock valued at $73,481,000 after acquiring an additional 186,187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after acquiring an additional 179,880 shares during the last quarter. Finally, Allstate Corp lifted its holdings in shares of Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock worth $7,877,000 after purchasing an additional 39,321 shares during the period. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLD. Evercore ISI decreased their price objective on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Wolfe Research cut Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Scotiabank increased their target price on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research report on Monday. Finally, BMO Capital Markets dropped their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.84.

Prologis Stock Down 0.5%

Shares of NYSE:PLD traded down $0.59 during trading on Tuesday, reaching $109.74. 4,503,085 shares of the stock were exchanged, compared to its average volume of 4,186,697. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The stock has a fifty day moving average of $105.67 and a two-hundred day moving average of $111.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The firm has a market cap of $101.83 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.99 billion. Research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is presently 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.