Victory Capital Management Inc. Reduces Stake in Prologis, Inc. (NYSE:PLD)

Victory Capital Management Inc. lowered its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 873,988 shares of the real estate investment trust's stock after selling 69,853 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Prologis worth $97,703,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis in the fourth quarter valued at approximately $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis in the 4th quarter worth approximately $27,000. REAP Financial Group LLC boosted its holdings in Prologis by 40.0% in the 4th 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 during the period. Olde Wealth Management LLC purchased a new position in shares of Prologis during the 1st quarter valued at $43,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Scotiabank lifted their price objective on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research note on Monday, May 12th. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Mizuho cut their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Morgan Stanley lowered their target price on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, UBS Group lifted their target price on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $120.47.

Prologis Trading Up 0.2%

PLD traded up $0.26 on Friday, hitting $106.69. 4,481,494 shares of the company were exchanged, compared to its average volume of 4,211,351. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19. The firm has a fifty day simple moving average of $107.49 and a two-hundred day simple moving average of $109.61. The stock has a market capitalization of $99.00 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 2.68 and a beta of 1.23. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $2.03 billion. During the same quarter last year, the business earned $1.34 earnings per share. The business's revenue was up 8.8% on a year-over-year basis. Sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 3.79%. The ex-dividend date was Tuesday, June 17th. Prologis's payout ratio is 101.00%.

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.