Prestige Wealth Management Group LLC Sells 12,973 Shares of Prologis, Inc. $PLD

Key Points

• Prestige Wealth Management Group LLC cut its Prologis stake by 94.8% in the fourth quarter, selling 12,973 shares and leaving it with 705 shares worth about $90,000.
• Analyst sentiment remains positive, with multiple firms raising price targets and ratings; Prologis now carries a consensus Moderate Buy and an average target price of $151.86.
• Prologis topped quarterly estimates with EPS of $1.05 versus $0.81 expected and revenue of $2.30 billion, while also announcing a quarterly dividend of $1.07 per share, or $4.28 annualized.

Prestige Wealth Management Group LLC decreased its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 94.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 705 shares of the real estate investment trust's stock after selling 12,973 shares during the quarter. Prestige Wealth Management Group LLC's holdings in Prologis were worth $90,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Harvest Fund Management Co. Ltd grew its stake in shares of Prologis by 60.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 5,131 shares of the real estate investment trust's stock worth $655,000 after purchasing an additional 1,942 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Prologis by 5.2% in the fourth quarter. J.W. Cole Advisors Inc. now owns 13,850 shares of the real estate investment trust's stock worth $1,768,000 after purchasing an additional 689 shares during the last quarter. Vise Technologies Inc. grew its stake in shares of Prologis by 471.6% in the fourth quarter. Vise Technologies Inc. now owns 24,720 shares of the real estate investment trust's stock worth $3,156,000 after purchasing an additional 20,395 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Prologis by 10.4% in the fourth quarter. Continuum Advisory LLC now owns 4,070 shares of the real estate investment trust's stock worth $520,000 after purchasing an additional 382 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Prologis by 4.2% in the fourth quarter. TD Asset Management Inc now owns 368,624 shares of the real estate investment trust's stock worth $47,059,000 after purchasing an additional 14,691 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Prologis from $139.00 to $154.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. BMO Capital Markets raised shares of Prologis from a "market perform" rating to an "outperform" rating and upped their price target for the company from $137.00 to $162.00 in a research report on Thursday, May 7th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $157.00 price target on shares of Prologis in a research report on Friday, April 17th. Weiss Ratings raised shares of Prologis from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company upped their price target on shares of Prologis from $155.00 to $167.00 and gave the company an "overweight" rating in a research report on Monday, June 1st. Sixteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $151.86.

Prologis Stock Performance

Shares of PLD opened at $144.69 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $134.90 billion, a P/E ratio of 36.45, a price-to-earnings-growth ratio of 3.16 and a beta of 1.32. The firm's fifty day simple moving average is $140.40 and its two-hundred day simple moving average is $134.72. Prologis, Inc. has a 12 month low of $103.41 and a 12 month high of $147.93.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The real estate investment trust reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.24. The business had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.12 billion. Prologis had a net margin of 41.54% and a return on equity of 6.47%. The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 earnings per share. Prologis has set its FY 2026 guidance at 6.070-6.230 EPS. As a group, analysts predict that Prologis, Inc. will post 6.18 EPS for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 16th. Prologis's dividend payout ratio is 107.81%.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.

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