JLP Asset Management LLC Sells 20,100 Shares of Prologis, Inc. (NYSE:PLD)

JLP Asset Management LLC reduced its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 24.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 63,782 shares of the real estate investment trust's stock after selling 20,100 shares during the quarter. Prologis accounts for 10.1% of JLP Asset Management LLC's investment portfolio, making the stock its largest position. JLP Asset Management LLC's holdings in Prologis were worth $8,502,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in Prologis by 9.1% during the 4th quarter. International Assets Investment Management LLC now owns 1,697 shares of the real estate investment trust's stock worth $226,000 after buying an additional 141 shares during the period. BSW Wealth Partners increased its stake in Prologis by 10.9% during the 4th quarter. BSW Wealth Partners now owns 3,316 shares of the real estate investment trust's stock worth $442,000 after buying an additional 325 shares during the period. Meeder Asset Management Inc. increased its stake in Prologis by 13.2% during the 4th quarter. Meeder Asset Management Inc. now owns 2,308 shares of the real estate investment trust's stock worth $308,000 after buying an additional 270 shares during the period. Centurion Wealth Management LLC increased its stake in Prologis by 23.4% during the 4th quarter. Centurion Wealth Management LLC now owns 2,659 shares of the real estate investment trust's stock worth $354,000 after buying an additional 504 shares during the period. Finally, 180 Wealth Advisors LLC increased its stake in Prologis by 104.5% during the 4th quarter. 180 Wealth Advisors LLC now owns 37,646 shares of the real estate investment trust's stock worth $5,068,000 after buying an additional 19,235 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Up 1.1 %

Shares of NYSE PLD traded up $1.43 during midday trading on Monday, reaching $126.17. 2,634,610 shares of the stock were exchanged, compared to its average volume of 3,162,809. The company has a market capitalization of $116.71 billion, a P/E ratio of 38.35, a P/E/G ratio of 2.49 and a beta of 1.00. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average price of $130.52 and a 200-day moving average price of $122.00.

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

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is a boost from Prologis's previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.04%. Prologis's dividend payout ratio (DPR) is currently 116.72%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PLD shares. Raymond James upped their target price on shares of Prologis from $130.00 to $145.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, January 24th. StockNews.com raised shares of Prologis from a "sell" rating to a "hold" rating in a research report on Thursday, December 14th. Scotiabank increased their price objective on shares of Prologis from $134.00 to $143.00 and gave the company a "sector outperform" rating in a research report on Friday, December 15th. Robert W. Baird increased their price objective on shares of Prologis from $133.00 to $137.00 and gave the company a "neutral" rating in a research report on Tuesday, January 23rd. Finally, Mizuho reissued a "neutral" rating and issued a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $141.67.

Prologis Company 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.