Prosperity Consulting Group LLC Lowers Stock Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• Prosperity Consulting Group LLC reduced its position in Prologis, Inc. by 57.2% in the first quarter, resulting in a total of 3,739 shares valued at approximately $418,000.
• Prologis reported $1.46 earnings per share (EPS) for the most recent quarter, exceeding analyst expectations by $0.05, and achieving an 8.8% year-over-year revenue growth.
• The firm has declared a quarterly dividend of $1.01 per share, which translates to an annualized dividend yield of 3.68%, although its payout ratio stands at 109.49%.

Prosperity Consulting Group LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 57.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,739 shares of the real estate investment trust's stock after selling 4,989 shares during the period. Prosperity Consulting Group LLC's holdings in Prologis were worth $418,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after acquiring an additional 15,078 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in shares of Prologis by 26.9% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 16,398 shares of the real estate investment trust's stock valued at $1,733,000 after acquiring an additional 3,478 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Prologis by 0.9% during the fourth quarter. Alliancebernstein L.P. now owns 3,496,280 shares of the real estate investment trust's stock valued at $369,557,000 after acquiring an additional 30,985 shares during the last quarter. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Prologis by 8.2% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 63,169 shares of the real estate investment trust's stock valued at $6,676,000 after acquiring an additional 4,801 shares during the last quarter. Finally, HighPoint Advisor Group LLC raised its stake in shares of Prologis by 4.3% during the fourth quarter. HighPoint Advisor Group LLC now owns 14,949 shares of the real estate investment trust's stock valued at $1,580,000 after acquiring an additional 612 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Down 1.4%

Shares of NYSE:PLD traded down $1.46 during trading on Friday, reaching $105.33. 382,580 shares of the stock traded hands, compared to its average volume of 4,583,255. The stock has a 50-day moving average of $107.55 and a two-hundred day moving average of $109.83. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19. The stock has a market cap of $97.73 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 2.72 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the company posted $1.34 earnings per share. The firm's quarterly revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were issued a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.8%. Prologis's dividend payout ratio (DPR) is currently 109.49%.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research reports. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Truist Financial decreased their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. BMO Capital Markets decreased their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Finally, Scotiabank increased their price target on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis currently has an average rating of "Moderate Buy" and an average price target of $120.74.

Prologis Company 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.