Baillie Gifford & Co. Sells 7,423 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Baillie Gifford & Co. has reduced its stake in Prologis, Inc. by 11.8%, selling 7,423 shares during the first quarter, leaving it with 55,578 shares valued at approximately $6.21 million.
• Equities research analysts have lowered price targets for Prologis, with BMO Capital Markets adjusting theirs from $105 to $95, reflecting a cautious outlook on the stock.
• Prologis recently announced a quarterly dividend of $1.01 per share, with a yield of 3.66%, despite a high dividend payout ratio of 109.49%.

Baillie Gifford & Co. cut its position in Prologis, Inc. (NYSE:PLD - Free Report) by 11.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,578 shares of the real estate investment trust's stock after selling 7,423 shares during the quarter. Baillie Gifford & Co.'s holdings in Prologis were worth $6,213,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis during the 4th quarter worth approximately $26,000. REAP Financial Group LLC grew its holdings in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 84 shares in the last quarter. Olde Wealth Management LLC acquired a new position in Prologis in the 1st quarter valued at $43,000. Cornerstone Planning Group LLC grew its holdings in Prologis by 63.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 152 shares in the last quarter. Finally, Missouri Trust & Investment Co grew its holdings in Prologis by 59.6% in the 1st quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 149 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Down 0.8%

Shares of Prologis stock traded down $0.90 during midday trading on Wednesday, reaching $108.82. The company had a trading volume of 524,591 shares, compared to its average volume of 4,592,555. The stock has a fifty day moving average price of $107.44 and a 200 day moving average price of $109.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.19 and a quick ratio of 0.41. The firm has a market cap of $100.98 billion, a PE ratio of 29.45, a P/E/G ratio of 2.69 and a beta of 1.23. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The firm's quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 earnings per share. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio is currently 109.49%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Evercore ISI decreased their price objective on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, April 17th. Morgan Stanley decreased their price objective on Prologis to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. CJS Securities reduced their target price on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Finally, Barclays reduced their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $120.74.

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.