Westwood Holdings Group Inc. Sells 80,191 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Westwood Holdings Group Inc. reduced its stake in Prologis, Inc. by 10.8%, selling 80,191 shares during the first quarter, leaving it with approximately 662,376 shares valued at $74 million.
• Institutional investors and hedge funds hold 93.50% of Prologis's stock, with notable increases in holdings from Alley Investment Management (by 102.8%) and First Citizens Bank & Trust Co. (by 1,451.2%) during the same period.
• Prologis's recent earnings report showed a net margin of 40.29% and a revenue increase of 8.8% compared to the previous year, beating analyst expectations with earnings per share of $1.46.

Westwood Holdings Group Inc. lowered its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 10.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 662,376 shares of the real estate investment trust's stock after selling 80,191 shares during the quarter. Westwood Holdings Group Inc. owned about 0.07% of Prologis worth $74,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in PLD. Alley Investment Management Company LLC raised its position in Prologis by 102.8% during the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock valued at $12,111,000 after acquiring an additional 54,914 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in Prologis by 1,451.2% during the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after acquiring an additional 29,170 shares in the last quarter. Truist Financial Corp raised its position in Prologis by 9.3% during the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock valued at $33,232,000 after acquiring an additional 25,229 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Prologis by 2.2% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock valued at $33,249,000 after acquiring an additional 6,350 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in Prologis by 3.1% during the first quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock valued at $615,000 after acquiring an additional 167 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

NYSE PLD opened at $107.01 on Wednesday. The stock's fifty day moving average is $107.59 and its two-hundred day moving average is $109.76. The firm has a market capitalization of $99.31 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.21. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

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 for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were given a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.8%. Prologis's payout ratio is currently 109.49%.

Analysts Set New Price Targets

PLD has been the subject of several recent research reports. CJS Securities reduced their price target on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Citigroup dropped their price objective on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Royal Bank Of Canada dropped their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Mizuho dropped their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, BMO Capital Markets dropped their price objective on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.

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