Prologis, Inc. (NYSE:PLD) Shares Sold by Segment Wealth Management LLC

Segment Wealth Management LLC lowered its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 40.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,020 shares of the real estate investment trust's stock after selling 27,712 shares during the period. Segment Wealth Management LLC's holdings in Prologis were worth $5,335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Prologis during the 4th quarter valued at $980,759,000. Morgan Stanley lifted its position in shares of Prologis by 48.0% during the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust's stock valued at $1,643,359,000 after buying an additional 4,729,040 shares during the last quarter. Moneta Group Investment Advisors LLC purchased a new position in shares of Prologis during the 4th quarter valued at $232,205,000. Legal & General Group Plc lifted its position in shares of Prologis by 22.4% during the 4th quarter. Legal & General Group Plc now owns 11,130,145 shares of the real estate investment trust's stock valued at $1,254,702,000 after buying an additional 2,038,187 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Prologis during the 3rd quarter valued at $185,164,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Ratings Changes

PLD has been the topic of a number of recent research reports. Evercore ISI reaffirmed an "in-line" rating and set a $136.00 price target on shares of Prologis in a research report on Monday, March 18th. TheStreet raised Prologis from a "c+" rating to a "b-" rating in a research report on Friday, January 26th. Barclays dropped their price objective on Prologis from $153.00 to $141.00 and set an "overweight" rating on the stock in a report on Wednesday, March 27th. Royal Bank of Canada increased their price objective on Prologis from $128.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, February 16th. Finally, Raymond James increased their price objective on Prologis from $130.00 to $145.00 and gave the stock a "strong-buy" rating in a report on Wednesday, January 24th. Four 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $141.67.

Prologis Price Performance

Shares of NYSE:PLD traded up $0.09 on Tuesday, hitting $126.26. The company's stock had a trading volume of 2,900,477 shares, compared to its average volume of 3,161,707. The company has a 50-day simple moving average of $130.52 and a 200 day simple moving average of $122.00. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a market capitalization of $116.80 billion, a PE ratio of 38.38, a PEG ratio of 2.49 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $1.85 billion. During the same period in the previous year, the business earned $1.24 EPS. The business's revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently disclosed 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 dividend yield of 3.04%. This is a boost from Prologis's previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis's dividend payout ratio (DPR) is currently 116.72%.

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.