Richard Bernstein Advisors LLC Sells 12,363 Shares of Prologis, Inc. $PLD

Key Points

• Richard Bernstein Advisors LLC cut its Prologis stake by 61.4%, selling 12,363 shares and ending the quarter with 7,757 shares worth about $888,000.
• Prologis raised its quarterly dividend to $1.07 (from $1.01), implying a $4.28 annual payout and a 3.1% yield, with the dividend payable March 31 and a record date of March 17; the payout ratio is a high 113.8%.
• Analysts hold a consensus Moderate Buy on Prologis with a $137.20 target after several recent price-target increases (Goldman up to $148, Citi $145), and the stock trades near $136 with a market cap of about $126.6B and a P/E of ~38.4.

Richard Bernstein Advisors LLC lessened its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 61.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,757 shares of the real estate investment trust's stock after selling 12,363 shares during the period. Richard Bernstein Advisors LLC's holdings in Prologis were worth $888,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PLD. Brighton Jones LLC lifted its position in shares of Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after acquiring an additional 15,078 shares during the period. Schnieders Capital Management LLC. increased its position in shares of Prologis by 45.4% during the second quarter. Schnieders Capital Management LLC. now owns 10,728 shares of the real estate investment trust's stock valued at $1,128,000 after purchasing an additional 3,350 shares during the period. Savant Capital LLC increased its position in shares of Prologis by 39.3% during the second quarter. Savant Capital LLC now owns 17,422 shares of the real estate investment trust's stock valued at $1,831,000 after purchasing an additional 4,919 shares during the period. Penserra Capital Management LLC raised its stake in shares of Prologis by 12.1% in the second quarter. Penserra Capital Management LLC now owns 5,083 shares of the real estate investment trust's stock valued at $533,000 after purchasing an additional 547 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in Prologis by 1.8% in the second quarter. AE Wealth Management LLC now owns 8,751 shares of the real estate investment trust's stock worth $920,000 after purchasing an additional 158 shares during the period. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup started coverage on shares of Prologis in a report on Thursday, March 5th. They issued a "buy" rating and a $145.00 price target on the stock. Argus upped their target price on shares of Prologis from $128.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. The Goldman Sachs Group increased their price objective on Prologis from $137.00 to $148.00 and gave the stock a "neutral" rating in a research note on Monday, February 9th. Barclays restated an "overweight" rating and issued a $139.00 target price on shares of Prologis in a research note on Tuesday, January 13th. Finally, Royal Bank Of Canada upped their price objective on shares of Prologis from $132.00 to $135.00 and gave the stock a "sector perform" rating in a research note on Monday, February 2nd. Fourteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.20.

Prologis Stock Performance

PLD opened at $136.18 on Wednesday. The business's 50-day moving average price is $134.23 and its two-hundred day moving average price is $125.92. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $143.95. The company has a market capitalization of $126.59 billion, a price-to-earnings ratio of 38.36, a P/E/G ratio of 3.34 and a beta of 1.41. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.58 and a quick ratio of 0.58.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, January 21st. The real estate investment trust reported $1.44 EPS for the quarter, hitting analysts' consensus estimates of $1.44. Prologis had a net margin of 37.86% and a return on equity of 5.79%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the business posted $1.42 EPS. The company's quarterly revenue was up 7.8% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $1.07 per share. This is a boost from Prologis's previous quarterly dividend of $1.01. The ex-dividend date is Tuesday, March 17th. This represents a $4.28 dividend on an annualized basis and a yield of 3.1%. Prologis's dividend payout ratio is 113.80%.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.

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