Prologis, Inc. (NYSE:PLD) Stock Position Lowered by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 448,894 shares of the real estate investment trust's stock after selling 37,138 shares during the period. Nisa Investment Advisors LLC's holdings in Prologis were worth $50,182,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis during the fourth quarter worth approximately $26,000. Crowley Wealth Management Inc. purchased a new position in shares of Prologis during the 4th quarter valued at $27,000. REAP Financial Group LLC raised its holdings in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 84 shares in the last quarter. Olde Wealth Management LLC acquired a new stake in Prologis during the first quarter valued at $43,000. Finally, Cornerstone Planning Group LLC grew its stake in Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays reduced their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Wolfe Research cut Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Wells Fargo & Company dropped their price target on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Robert W. Baird lowered their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Mizuho lowered their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $119.53.

Prologis Price Performance

Shares of NYSE PLD traded down $0.32 during mid-day trading on Wednesday, reaching $106.53. The company had a trading volume of 141,401 shares, compared to its average volume of 4,156,916. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The business's 50-day simple moving average is $106.95 and its 200 day simple moving average is $109.49. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market cap of $98.85 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 2.70 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.79%. Prologis's dividend payout ratio (DPR) is currently 101.00%.

Prologis 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.

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