Rice Partnership LLC Decreases Position in Prologis, Inc. (NYSE:PLD)

Rice Partnership LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 27.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cohen & Steers Inc. raised its position in shares of Prologis by 3.2% during the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock valued at $2,994,557,000 after purchasing an additional 882,529 shares during the period. Geode Capital Management LLC raised its position in shares of Prologis by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after purchasing an additional 610,251 shares during the period. FMR LLC raised its position in shares of Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Prologis by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after purchasing an additional 334,907 shares during the period. Finally, Northern Trust Corp increased its holdings in Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after acquiring an additional 4,893,284 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

PLD stock traded up $0.79 during mid-day trading on Tuesday, reaching $107.12. The company's stock had a trading volume of 1,301,798 shares, compared to its average volume of 4,157,872. The stock has a market cap of $99.40 billion, a PE ratio of 26.78, a P/E/G ratio of 2.74 and a beta of 1.23. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company's 50 day moving average is $106.87 and its two-hundred day moving average is $109.50.

Prologis (NYSE:PLD - Get Free Report) last released 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 company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. Equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

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. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent research reports. CJS Securities dropped their price target on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Morgan Stanley dropped their price target on Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. UBS Group boosted their target price on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Finally, Wells Fargo & Company dropped their target price on Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.53.

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.