Prologis, Inc. (NYSE:PLD) Shares Sold by RFG Advisory LLC

RFG Advisory LLC trimmed its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 72.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,183 shares of the real estate investment trust's stock after selling 18,657 shares during the period. RFG Advisory LLC's holdings in Prologis were worth $803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Cohen & Steers Inc. grew its stake in Prologis by 3.2% in the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock valued at $2,994,557,000 after acquiring an additional 882,529 shares during the last quarter. Geode Capital Management LLC grew its stake in Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after acquiring an additional 610,251 shares during the last quarter. FMR LLC grew its stake in Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after acquiring an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Prologis by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after acquiring an additional 334,907 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after acquiring an additional 4,893,284 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on PLD. Mizuho lowered their price objective on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Morgan Stanley reduced their target price on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Scotiabank upped their target price on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Wall Street Zen upgraded shares of Prologis from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Evercore ISI reduced their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Prologis has a consensus rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Trading Down 0.6%

Shares of PLD stock opened at $107.74 on Friday. The firm's 50-day simple moving average is $103.73 and its 200-day simple moving average is $110.46. The firm has a market cap of $99.97 billion, a P/E ratio of 26.94, a PEG ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

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

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is presently 101.00%.

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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