Meitav Investment House Ltd. lowered its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 312,366 shares of the real estate investment trust's stock after selling 12,256 shares during the period. Meitav Investment House Ltd.'s holdings in Prologis were worth $41,691,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. VitalStone Financial LLC purchased a new position in Prologis during the second quarter valued at $27,000. Thompson Investment Management Inc. purchased a new position in Prologis during the fourth quarter valued at $28,000. DHJJ Financial Advisors Ltd. purchased a new position in Prologis during the third quarter valued at $29,000. FinTrust Capital Advisors LLC lifted its position in Prologis by 966.7% during the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 232 shares during the period. Finally, Fairfield Bush & CO. purchased a new position in Prologis during the second quarter valued at $35,000. Institutional investors own 93.50% of the company's stock.
Prologis Stock Performance
NYSE:PLD traded down $0.38 during mid-day trading on Thursday, reaching $120.24. The company's stock had a trading volume of 4,098,147 shares, compared to its average volume of 3,198,088. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The firm's fifty day moving average price is $130.19 and its two-hundred day moving average price is $122.06. 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 market cap of $111.23 billion, a P/E ratio of 36.55, a PEG ratio of 2.52 and a beta of 1.00.
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 (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 the consensus estimate of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 earnings per share. On average, equities analysts forecast that Prologis, Inc. will post 5.5 EPS for the current fiscal 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 $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.19%. This is a positive change from Prologis's previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis's dividend payout ratio is currently 116.72%.
Analyst Ratings Changes
Several equities analysts have commented on PLD shares. Morgan Stanley raised their price objective on Prologis from $128.00 to $141.00 and gave the company an "overweight" rating in a research report on Wednesday, January 24th. StockNews.com raised Prologis from a "sell" rating to a "hold" rating in a research report on Thursday, December 14th. TheStreet raised Prologis from a "c+" rating to a "b-" rating in a research report on Friday, January 26th. Robert W. Baird lifted their price target on Prologis from $133.00 to $137.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 23rd. Finally, Scotiabank lifted their price target on Prologis from $134.00 to $143.00 and gave the stock a "sector outperform" rating in a research report on Friday, December 15th. Four equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $141.67.
Check Out Our Latest Stock Analysis on Prologis
About Prologis
(
Free Report)
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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