Williams Jones Wealth Management LLC. lessened its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 34.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,624 shares of the real estate investment trust's stock after selling 2,989 shares during the period. Williams Jones Wealth Management LLC.'s holdings in Prologis were worth $594,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of PLD. Cohen & Steers Inc. lifted its position in shares of Prologis by 3.2% during 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 buying an additional 882,529 shares in the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 610,251 shares during the last quarter. FMR LLC raised 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 purchasing an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of 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 worth $1,754,282,000 after acquiring an additional 334,907 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of 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 worth $1,464,509,000 after acquiring an additional 4,893,284 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. BMO Capital Markets cut their price objective on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Thursday. CJS Securities lowered their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Wells Fargo & Company lowered their price target on Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, UBS Group increased their price objective on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $120.42.
Get Our Latest Research Report on Prologis
Prologis Stock Performance
NYSE:PLD traded down $0.97 during midday trading on Friday, reaching $104.13. 3,075,490 shares of the company traded hands, compared to its average volume of 4,191,907. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The firm has a market capitalization of $96.62 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company has a fifty day moving average price of $104.26 and a 200 day moving average price of $110.87.
Prologis (NYSE:PLD - Get Free Report) last announced its quarterly 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. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. On average, analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.
Prologis Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 3.88%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is presently 101.00%.
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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