Massachusetts Financial Services Co. MA Sells 343,238 Shares of Prologis, Inc. (NYSE:PLD)

Massachusetts Financial Services Co. MA lessened its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 2.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,253,561 shares of the real estate investment trust's stock after selling 343,238 shares during the period. Massachusetts Financial Services Co. MA owned about 1.75% of Prologis worth $1,816,986,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PLD. Brighton Jones LLC increased its holdings in 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 acquiring an additional 15,078 shares in the last quarter. Proficio Capital Partners LLC raised its stake in Prologis by 74.8% during the 4th quarter. Proficio Capital Partners LLC now owns 3,277 shares of the real estate investment trust's stock worth $346,000 after acquiring an additional 1,402 shares during the period. HighTower Advisors LLC raised its stake in Prologis by 5.7% during the 4th quarter. HighTower Advisors LLC now owns 179,534 shares of the real estate investment trust's stock worth $18,977,000 after acquiring an additional 9,606 shares during the period. EverSource Wealth Advisors LLC raised its stake in Prologis by 228.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,253 shares of the real estate investment trust's stock worth $344,000 after acquiring an additional 2,264 shares during the period. Finally, Choate Investment Advisors raised its stake in Prologis by 10.4% during the 4th quarter. Choate Investment Advisors now owns 7,668 shares of the real estate investment trust's stock worth $811,000 after acquiring an additional 725 shares during the period. Institutional investors own 93.50% of the company's stock.

Prologis Trading Down 0.8%

Shares of NYSE:PLD traded down $0.83 on Tuesday, hitting $108.52. 5,307,674 shares of the company's stock were exchanged, compared to its average volume of 4,190,574. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The stock has a market capitalization of $100.70 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23. The business's 50 day simple moving average is $107.37 and its two-hundred day simple moving average is $109.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41.

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

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were issued a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.72%. Prologis's payout ratio is currently 101.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada cut their price objective on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Barclays cut their price objective on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Morgan Stanley cut their price objective on shares of Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Evercore ISI cut their price objective on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Finally, Truist Financial cut their target price on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $120.47.

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.