Quintet Private Bank Europe S.A. Cuts Stake in Prologis, Inc. (NYSE:PLD)

Quintet Private Bank Europe S.A. reduced its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 22.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,705 shares of the real estate investment trust's stock after selling 3,468 shares during the period. Quintet Private Bank Europe S.A.'s holdings in Prologis were worth $1,309,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in Prologis during the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. acquired a new position in Prologis during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new position in Prologis during the 4th quarter worth approximately $30,000. REAP Financial Group LLC grew its holdings 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 in the last quarter. Finally, Promus Capital LLC acquired a new position in Prologis during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on PLD. Scotiabank boosted their price target 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. CJS Securities lowered their price target on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Truist Financial lowered their target price on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Mizuho lowered their target price on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, eight have given 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.42.

Prologis Stock Performance

PLD stock traded down $1.26 on Friday, hitting $107.18. The company's stock had a trading volume of 3,359,339 shares, compared to its average volume of 4,120,967. The firm has a 50 day moving average of $104.26 and a two-hundred day moving average of $110.23. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The stock has a market cap of $99.45 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly 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. 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%. Equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.77%. Prologis's payout ratio is currently 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.