Prologis, Inc. (NYSE:PLD) Shares Sold by Vert Asset Management LLC

Vert Asset Management LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 5.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 173,075 shares of the real estate investment trust's stock after selling 9,546 shares during the quarter. Prologis comprises about 6.7% of Vert Asset Management LLC's portfolio, making the stock its 6th biggest position. Vert Asset Management LLC's holdings in Prologis were worth $19,348,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cohen & Steers Inc. increased its stake in Prologis by 3.2% in 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 buying an additional 882,529 shares during the last quarter. Geode Capital Management LLC raised its position in Prologis by 2.9% during the fourth 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 in the last quarter. FMR LLC raised its position in Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares during the period. Massachusetts Financial Services Co. MA raised its position in Prologis by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after purchasing an additional 334,907 shares during the period. Finally, Northern Trust Corp raised its holdings in Prologis by 54.6% during 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 buying an additional 4,893,284 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on PLD. Wells Fargo & Company cut their price target on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Mizuho lowered their price objective on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. CJS Securities lowered their target price on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Finally, BMO Capital Markets lowered their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Stock Up 0.5%

PLD traded up $0.57 on Tuesday, reaching $109.50. 3,771,649 shares of the company traded hands, compared to its average volume of 4,138,938. The stock's 50 day moving average price is $103.61 and its 200-day moving average price is $110.31. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a market cap of $101.61 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.69%. Prologis's dividend payout ratio is 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.