Prologis, Inc. (NYSE:PLD) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. decreased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,512 shares of the real estate investment trust's stock after selling 6,456 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Prologis were worth $7,547,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PLD. Aviva PLC boosted its stake in shares of 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 purchasing an additional 186,187 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock worth $82,907,000 after purchasing an additional 179,880 shares during the last quarter. Allstate Corp boosted its position in Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after buying an additional 39,321 shares during the period. First Citizens Bank & Trust Co. grew its stake in shares of Prologis by 1,451.2% during the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after buying an additional 29,170 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of Prologis by 3.1% during the first quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock valued at $615,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PLD. Mizuho dropped their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. CJS Securities dropped their price target on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Truist Financial cut their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Finally, Evercore ISI dropped their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and an average price target of $120.42.

Prologis Stock Performance

Shares of NYSE:PLD traded up $1.19 during trading on Friday, hitting $105.58. The stock had a trading volume of 5,732,894 shares, compared to its average volume of 4,131,212. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The stock has a market capitalization of $97.97 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.66 and a beta of 1.25. The stock has a 50-day simple moving average of $106.14 and a two-hundred day simple moving average of $109.55.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.83%. The ex-dividend date is Tuesday, June 17th. Prologis's payout ratio is 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.