Pinnacle Wealth Planning Services Inc. Reduces Position in Prologis, Inc. (NYSE:PLD)

Pinnacle Wealth Planning Services Inc. lowered its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 43.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,775 shares of the real estate investment trust's stock after selling 2,930 shares during the period. Pinnacle Wealth Planning Services Inc.'s holdings in Prologis were worth $399,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp purchased a new position in shares of Prologis during the fourth quarter valued at approximately $26,000. Crowley Wealth Management Inc. purchased a new position in shares of Prologis during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis during the fourth quarter valued at approximately $30,000. Whipplewood Advisors LLC purchased a new position in shares of Prologis during the fourth quarter valued at approximately $34,000. Finally, Promus Capital LLC purchased a new position in shares of Prologis during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Down 0.5%

NYSE:PLD traded down $0.59 during trading hours on Friday, reaching $108.64. The company's stock had a trading volume of 7,261,566 shares, compared to its average volume of 4,165,353. The stock has a 50 day moving average price of $103.94 and a two-hundred day moving average price of $110.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The company has a market capitalization of $100.81 billion, a P/E ratio of 27.16, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial decreased their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Evercore ISI decreased their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, April 17th. Mizuho decreased their price target on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Barclays decreased their price target 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. Finally, Wells Fargo & Company decreased their price target on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and an average 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.