Janney Montgomery Scott LLC cut its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 446,876 shares of the real estate investment trust's stock after selling 12,278 shares during the period. Janney Montgomery Scott LLC's holdings in Prologis were worth $49,956,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis in the fourth quarter worth approximately $26,000. Crowley Wealth Management Inc. bought a new position in shares of Prologis during the 4th quarter valued at $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the 4th quarter worth $30,000. REAP Financial Group LLC increased its position in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 84 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Prologis during the fourth quarter valued at $34,000. 93.50% of the stock is currently owned by institutional investors.
Prologis Trading Down 0.5%
Shares of PLD opened at $106.79 on Tuesday. The firm has a market cap of $99.09 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a 50 day simple moving average of $104.96 and a two-hundred day simple moving average of $109.99.
Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. On average, equities analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.
Prologis Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.78%. Prologis's dividend payout ratio is currently 101.00%.
Wall Street Analyst Weigh In
PLD has been the subject of a number of recent research reports. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research note on Saturday. CJS Securities cut their target price on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Morgan Stanley reduced their target price on shares of Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Finally, Mizuho reduced 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Prologis has an average rating of "Moderate Buy" and a consensus price target of $120.42.
View Our Latest Stock Report on Prologis
Prologis Company Profile
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Free Report)
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.
Further Reading
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