Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD Sells 120,095 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD decreased its holdings in Prologis, Inc. by 66.8%, now owning 59,816 shares worth approximately $6.74 million after selling 120,095 shares in the first quarter.
• Prologis, Inc. has an average analyst rating of "Moderate Buy" with a consensus price target of $120.74, reflecting various downward adjustments in price targets by multiple research firms.
• Prologis recently announced a quarterly dividend of $1.01 per share, representing an annualized yield of 3.66% and a payout ratio of 109.49%.

Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD decreased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 66.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,816 shares of the real estate investment trust's stock after selling 120,095 shares during the quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD's holdings in Prologis were worth $6,744,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC lifted its position in shares of Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after purchasing an additional 15,078 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis in the 4th quarter valued at $26,000. NEOS Investment Management LLC grew its holdings in shares of Prologis by 31.5% in the fourth quarter. NEOS Investment Management LLC now owns 56,655 shares of the real estate investment trust's stock valued at $5,988,000 after acquiring an additional 13,587 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Prologis by 9.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,346 shares of the real estate investment trust's stock valued at $142,000 after buying an additional 113 shares during the period. Finally, Norges Bank bought a new stake in shares of Prologis in the fourth quarter valued at $951,263,000. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Robert W. Baird decreased their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Barclays lowered their price objective on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Finally, Morgan Stanley dropped their price objective on Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $120.74.

Prologis Stock Performance

NYSE PLD opened at $110.23 on Friday. The stock has a market capitalization of $102.29 billion, a PE ratio of 29.87, a P/E/G ratio of 2.75 and a beta of 1.23. Prologis, Inc. has a 1-year low of $85.35 and a 1-year 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 business has a 50 day simple moving average of $107.48 and a two-hundred day simple moving average of $109.74.

Prologis (NYSE:PLD - Get Free Report) last released its 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 business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The business's revenue was up 8.8% compared to the same quarter last year. On average, research analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal 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 given a dividend of $1.01 per share. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.66%. Prologis's payout ratio is 109.49%.

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.

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