Cullinan Associates Inc. Has $4.12 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Cullinan Associates Inc. decreased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 71.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,941 shares of the real estate investment trust's stock after selling 78,556 shares during the period. Cullinan Associates Inc.'s holdings in Prologis were worth $4,124,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PLD. Prime Capital Investment Advisors LLC lifted its position in Prologis by 39.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 11,567 shares of the real estate investment trust's stock valued at $1,542,000 after purchasing an additional 3,261 shares during the period. Park Place Capital Corp lifted its position in Prologis by 11.3% during the 4th quarter. Park Place Capital Corp now owns 11,434 shares of the real estate investment trust's stock valued at $1,524,000 after purchasing an additional 1,159 shares during the period. Nilsine Partners LLC lifted its position in Prologis by 2.8% during the 4th quarter. Nilsine Partners LLC now owns 27,026 shares of the real estate investment trust's stock valued at $3,603,000 after purchasing an additional 738 shares during the period. International Assets Investment Management LLC lifted its position in Prologis by 14,437.9% during the 4th quarter. International Assets Investment Management LLC now owns 226,210 shares of the real estate investment trust's stock valued at $30,154,000 after purchasing an additional 224,654 shares during the period. Finally, Avitas Wealth Management LLC lifted its position in Prologis by 3.9% during the 4th quarter. Avitas Wealth Management LLC now owns 27,600 shares of the real estate investment trust's stock valued at $3,679,000 after purchasing an additional 1,034 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on Prologis from $128.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, February 16th. Scotiabank upped their price target on Prologis from $134.00 to $143.00 and gave the company a "sector outperform" rating in a research note on Friday, December 15th. Barclays lowered their price target on Prologis from $153.00 to $141.00 and set an "overweight" rating for the company in a research note on Wednesday, March 27th. TheStreet raised Prologis from a "c+" rating to a "b-" rating in a research note on Friday, January 26th. Finally, JPMorgan Chase & Co. raised Prologis from a "neutral" rating to an "overweight" rating and upped their price target for the company from $123.00 to $148.00 in a research note on Monday, December 18th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Prologis currently has an average rating of "Moderate Buy" and an average price target of $141.67.

Prologis Stock Up 0.1 %

Shares of NYSE PLD traded up $0.08 during midday trading on Friday, reaching $124.77. The company's stock had a trading volume of 5,099,625 shares, compared to its average volume of 3,170,759. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The stock has a market capitalization of $115.42 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 2.52 and a beta of 1.00. The stock has a 50 day simple moving average of $130.59 and a 200-day simple moving average of $121.90.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the business earned $1.24 earnings per share. Prologis's revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts predict that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.08%. This is an increase from Prologis's previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis's payout ratio is presently 116.72%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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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