Prologis, Inc. (NYSE:PLD) Shares Sold by Rice Partnership LLC

Rice Partnership LLC trimmed its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 27.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,992 shares of the real estate investment trust's stock after selling 2,598 shares during the quarter. Rice Partnership LLC's holdings in Prologis were worth $782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PLD. McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Prologis by 97.7% in the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 5,157 shares of the real estate investment trust's stock valued at $577,000 after buying an additional 2,548 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in shares of Prologis by 93.8% in the 1st quarter. Concurrent Investment Advisors LLC now owns 29,571 shares of the real estate investment trust's stock valued at $3,306,000 after buying an additional 14,312 shares during the period. HM Payson & Co. lifted its holdings in shares of Prologis by 328.3% in the 1st quarter. HM Payson & Co. now owns 2,557 shares of the real estate investment trust's stock valued at $286,000 after buying an additional 1,960 shares during the period. World Investment Advisors lifted its holdings in shares of Prologis by 16.9% in the 1st quarter. World Investment Advisors now owns 12,988 shares of the real estate investment trust's stock valued at $1,452,000 after buying an additional 1,873 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in Prologis in the 1st quarter valued at approximately $144,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLD has been the subject of several research analyst reports. Truist Financial dropped their price objective on 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 dropped their price objective on 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 dropped their price objective on Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Barclays dropped their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Finally, Royal Bank Of Canada dropped their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Trading Down 1.6%

Shares of NYSE:PLD traded down $1.71 during midday trading on Monday, reaching $106.31. The company's stock had a trading volume of 3,837,856 shares, compared to its average volume of 4,169,085. The firm has a market cap of $98.65 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 2.74 and a beta of 1.23. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The business has a 50 day moving average price of $106.82 and a 200 day moving average price of $109.48.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. Research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio is currently 101.00%.

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.