Spirepoint Private Client LLC cut its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 39.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,097 shares of the real estate investment trust's stock after selling 3,339 shares during the quarter. Spirepoint Private Client LLC's holdings in Prologis were worth $570,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis during the fourth quarter valued at about $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis during the 4th quarter valued at about $27,000. REAP Financial Group LLC grew its position in Prologis by 40.0% during the 4th 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 during the last quarter. Whipplewood Advisors LLC purchased a new position in Prologis in the 4th quarter worth approximately $34,000. Finally, Promus Capital LLC purchased a new position in Prologis in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 93.50% of the company's stock.
Prologis Stock Down 1.5%
PLD traded down $1.58 during trading on Wednesday, reaching $106.55. The stock had a trading volume of 381,677 shares, compared to its average volume of 4,098,406. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $98.87 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 2.72 and a beta of 1.25. The stock's 50 day moving average is $106.00 and its two-hundred day moving average is $109.66. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57.
Prologis (NYSE:PLD - Get Free Report) last issued 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 44.59% and a return on equity of 6.45%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. As a group, analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.
Prologis Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a $1.01 dividend. The ex-dividend date is 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 is currently 101.00%.
Wall Street Analyst Weigh In
PLD has been the topic of several recent analyst reports. CJS Securities cut their target price on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. BMO Capital Markets cut their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Robert W. Baird decreased their price objective on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Scotiabank increased their target price on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday, May 12th. Finally, Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.42.
Check Out Our Latest Stock Report on Prologis
Prologis Company Profile
(
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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