Prologis, Inc. (NYSE:PLD) Shares Sold by Ascent Group LLC

Ascent Group LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 62.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,603 shares of the real estate investment trust's stock after selling 9,303 shares during the quarter. Ascent Group LLC's holdings in Prologis were worth $592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Brighton Jones LLC boosted its holdings in shares of Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after purchasing an additional 15,078 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in shares of Prologis by 8.3% in the 4th quarter. First Citizens Bank & Trust Co. now owns 2,010 shares of the real estate investment trust's stock worth $212,000 after buying an additional 154 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Prologis by 13.2% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,998 shares of the real estate investment trust's stock worth $528,000 after purchasing an additional 584 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Prologis by 18.8% during the fourth quarter. Blue Trust Inc. now owns 24,573 shares of the real estate investment trust's stock valued at $2,597,000 after buying an additional 3,887 shares during the last quarter. Finally, Berkshire Bank lifted its position in shares of Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock valued at $443,000 after buying an additional 95 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PLD shares. Morgan Stanley cut their price objective on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. BMO Capital Markets decreased their target price on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Robert W. Baird cut their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, CJS Securities decreased their price objective on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Stock Down 0.5%

PLD stock traded down $0.59 during trading on Friday, hitting $108.64. 7,261,566 shares of the company's stock were exchanged, compared to its average volume of 4,209,099. 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, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The business has a 50-day moving average price of $103.95 and a two-hundred day moving average price of $110.66. The stock has a market capitalization of $100.81 billion, a price-to-earnings ratio of 27.16, a PEG 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 for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.99 billion. As a group, equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

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 given a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.72%. Prologis's dividend payout ratio is currently 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.