Easterly Investment Partners LLC Sells 65,000 Shares of Prologis, Inc. (NYSE:PLD)

Easterly Investment Partners LLC lessened its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 48.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,104 shares of the real estate investment trust's stock after selling 65,000 shares during the quarter. Easterly Investment Partners LLC's holdings in Prologis were worth $7,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cohen & Steers Inc. boosted its stake in shares of Prologis by 3.2% in the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock valued at $2,994,557,000 after purchasing an additional 882,529 shares in the last quarter. Geode Capital Management LLC lifted its position in Prologis by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after buying an additional 610,251 shares in the last quarter. FMR LLC lifted its position in Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after buying an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Prologis by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after buying an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Stock Up 0.2%

NYSE:PLD traded up $0.26 during trading hours on Friday, reaching $106.69. 4,481,494 shares of the stock were exchanged, compared to its average volume of 4,213,027. 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 0.60, a current ratio of 0.19 and a quick ratio of 0.41. The firm has a 50 day moving average of $107.49 and a 200 day moving average of $109.61. The stock has a market cap of $99.00 billion, a PE ratio of 28.91, a PEG ratio of 2.77 and a beta of 1.23.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.79%. Prologis's payout ratio is 101.00%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PLD shares. Robert W. Baird reduced their price target on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Barclays cut their target price on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Royal Bank Of Canada cut their target price on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Truist Financial cut 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. Finally, Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $120.47.

Prologis 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.