Mutual of America Capital Management LLC cut its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 107,779 shares of the real estate investment trust's stock after selling 3,168 shares during the quarter. Mutual of America Capital Management LLC's holdings in Prologis were worth $12,049,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of PLD. REAP Financial Group LLC lifted its stake in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 84 shares in the last quarter. Phoenix Financial Ltd. lifted its stake in Prologis by 1.0% in the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock worth $955,000 after acquiring an additional 86 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in Prologis by 1.7% in the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock worth $642,000 after acquiring an additional 100 shares in the last quarter. Focus Financial Network Inc. raised its stake in shares of Prologis by 5.2% during the 1st quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock worth $234,000 after purchasing an additional 104 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of Prologis by 9.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,346 shares of the real estate investment trust's stock worth $142,000 after purchasing an additional 113 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
Prologis Stock Performance
Shares of NYSE:PLD traded down $0.83 during trading on Tuesday, hitting $108.52. 5,307,674 shares of the stock were exchanged, compared to its average volume of 4,190,574. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company 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 company's fifty day simple moving average is $107.29 and its 200-day simple moving average is $109.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41.
Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. Sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal 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 paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio is 101.00%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on PLD shares. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Scotiabank raised their price target on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research note on Monday, May 12th. Morgan Stanley cut their price target on Prologis to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. BMO Capital Markets cut their price objective on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, Mizuho cut their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $120.47.
Read Our Latest Stock Report on PLD
About Prologis
(
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.
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