abrdn plc Sells 415,770 Shares of Prologis, Inc. (NYSE:PLD)

abrdn plc lessened its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 21.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,534,243 shares of the real estate investment trust's stock after selling 415,770 shares during the period. abrdn plc owned about 0.17% of Prologis worth $204,515,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thompson Investment Management Inc. purchased a new stake in Prologis in the 4th quarter valued at about $28,000. FinTrust Capital Advisors LLC increased its stake in Prologis by 966.7% in the 3rd 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 last quarter. Salem Investment Counselors Inc. purchased a new stake in Prologis in the 4th quarter valued at about $37,000. Fairfield Bush & CO. purchased a new stake in Prologis in the 2nd quarter valued at about $35,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Prologis during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PLD shares. Evercore ISI reduced their target price on shares of Prologis from $136.00 to $123.00 and set an "in-line" rating for the company in a research report on Thursday. UBS Group lowered their target price on shares of Prologis from $151.00 to $138.00 and set a "buy" rating on the stock in a research note on Thursday. Royal Bank of Canada raised their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, February 16th. Morgan Stanley raised their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an "overweight" rating in a research report on Wednesday, January 24th. Finally, Mizuho restated a "neutral" rating and set a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Prologis Trading Down 1.1 %

Prologis stock traded down $1.20 during trading hours on Friday, reaching $103.49. The stock had a trading volume of 6,932,203 shares, compared to its average volume of 3,950,327. The stock has a market cap of $95.73 billion, a PE ratio of 30.26, a PEG ratio of 2.10 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 debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. The company has a fifty day simple moving average of $127.87 and a 200-day simple moving average of $122.13.

Prologis (NYSE:PLD - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a return on equity of 5.49% and a net margin of 38.73%. Prologis's revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $1.24 EPS. Analysts forecast that Prologis, Inc. will post 5.47 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from Prologis's previous quarterly dividend of $0.87. Prologis's dividend payout ratio (DPR) is 112.28%.

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.