New Age Alpha Advisors LLC Reduces Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• New Age Alpha Advisors LLC significantly decreased its holdings in Prologis, Inc. by 53.8% in the first quarter, now owning 89,000 shares valued at approximately $9.95 million.
• Several institutional investors have increased their stakes in Prologis, with First Citizens Bank & Trust Co. raising theirs by an astonishing 1,451.2% during the same period.
• Brokerages have mixed ratings on Prologis, with a consensus rating of "Moderate Buy" and an average price target of $120.74, as analysts predict earnings of $5.73 per share for the current year.

New Age Alpha Advisors LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 53.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,000 shares of the real estate investment trust's stock after selling 103,612 shares during the period. New Age Alpha Advisors LLC's holdings in Prologis were worth $9,949,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alley Investment Management Company LLC increased its stake in Prologis by 102.8% during the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after buying an additional 54,914 shares during the period. First Citizens Bank & Trust Co. increased its stake in Prologis by 1,451.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock worth $3,486,000 after buying an additional 29,170 shares during the period. Truist Financial Corp increased its stake in Prologis by 9.3% during the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after buying an additional 25,229 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Prologis by 2.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock worth $33,249,000 after buying an additional 6,350 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its stake in Prologis by 3.1% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock worth $615,000 after buying an additional 167 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PLD. UBS Group raised their price objective on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. BMO Capital Markets decreased their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Evercore ISI decreased 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. Truist Financial decreased their price objective 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. Finally, CJS Securities decreased their price objective on shares of Prologis from $140.00 to $117.00 in a report 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $120.74.

Prologis Trading Up 0.2%

Shares of NYSE:PLD opened at $105.15 on Tuesday. The company has a market cap of $97.58 billion, a PE ratio of 28.50, a P/E/G ratio of 2.63 and a beta of 1.21. The company's 50-day moving average price is $107.59 and its 200 day moving average price is $109.78. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $1.34 EPS. Prologis's quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts anticipate 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. Shareholders of record on Tuesday, June 17th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, June 17th. 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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