VCI Wealth Management LLC Cuts Stake in Prologis, Inc. (NYSE:PLD)

VCI Wealth Management LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 16.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,735 shares of the real estate investment trust's stock after selling 2,503 shares during the quarter. VCI Wealth Management LLC's holdings in Prologis were worth $1,424,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis during the fourth quarter worth about $26,000. Crowley Wealth Management Inc. bought a new position in shares of Prologis during the fourth quarter valued at approximately $27,000. REAP Financial Group LLC increased its stake in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 84 shares in the last quarter. Olde Wealth Management LLC bought a new position in shares of Prologis during the first quarter valued at approximately $43,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 152 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Down 0.2%

Shares of NYSE PLD traded down $0.24 during midday trading on Thursday, reaching $109.76. 4,995,812 shares of the company's stock traded hands, compared to its average volume of 4,650,080. The company has a quick ratio of 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60. The stock's 50 day simple moving average is $107.48 and its 200-day simple moving average is $109.70. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company has a market cap of $101.85 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 2.74 and a beta of 1.23.

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

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.68%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio is currently 109.49%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PLD shares. Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Robert W. Baird cut their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. UBS Group lifted their price target on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. BMO Capital Markets dropped their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, Barclays dropped their price target on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average target price of $120.74.

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.