Prologis, Inc. (NYSE:PLD) Shares Sold by CWA Asset Management Group LLC

CWA Asset Management Group LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 8.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,183 shares of the real estate investment trust's stock after selling 6,501 shares during the quarter. CWA Asset Management Group LLC's holdings in Prologis were worth $8,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC purchased a new position in Prologis in the 1st quarter valued at approximately $361,000. PUREfi Wealth LLC acquired a new stake in Prologis in the first quarter valued at $202,000. Accelerate Investment Advisors LLC acquired a new stake in Prologis in the first quarter valued at $201,000. Essex Savings Bank purchased a new position in shares of Prologis in the first quarter valued at $220,000. Finally, Insigneo Advisory Services LLC raised its stake in shares of Prologis by 135.4% during the 1st quarter. Insigneo Advisory Services LLC now owns 4,524 shares of the real estate investment trust's stock worth $506,000 after buying an additional 2,602 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 0.0%

Prologis stock traded down $0.04 during midday trading on Thursday, reaching $105.05. The stock had a trading volume of 2,599,324 shares, compared to its average volume of 4,118,967. The stock's 50-day simple moving average is $105.22 and its 200 day simple moving average is $109.92. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market capitalization of $97.48 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.45% and a net margin of 44.59%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLD. BMO Capital Markets lowered their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Robert W. Baird lowered their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Finally, Truist Financial decreased their target price on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.42.

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.