Kintegral Advisory LLC Sells 6,405 Shares of Prologis, Inc. (NYSE:PLD)

Kintegral Advisory LLC reduced its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 32.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,057 shares of the real estate investment trust's stock after selling 6,405 shares during the quarter. Kintegral Advisory LLC's holdings in Prologis were worth $1,460,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Prologis in the 4th quarter valued at approximately $951,263,000. Northern Trust Corp boosted its holdings in shares of Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after buying an additional 4,893,284 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Prologis by 25.4% in the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after buying an additional 2,500,761 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Prologis in the 4th quarter valued at approximately $254,876,000. Finally, FMR LLC boosted its holdings in shares of Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after buying an additional 1,875,978 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

Shares of PLD traded down $0.28 during midday trading on Friday, reaching $108.03. 1,549,648 shares of the stock were exchanged, compared to its average volume of 4,170,417. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. The company has a market cap of $100.24 billion, a P/E ratio of 27.01, a PEG ratio of 2.74 and a beta of 1.23. The stock's 50 day simple moving average is $106.82 and its 200 day simple moving average is $109.43.

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

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PLD. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Evercore ISI cut their price objective on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Scotiabank increased their price objective on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Wells Fargo & Company cut their price target on Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, Robert W. Baird cut their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.