Calamos Wealth Management LLC Sells 55,381 Shares of Prologis, Inc. (NYSE:PLD)

Calamos Wealth Management LLC cut its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 96.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,170 shares of the real estate investment trust's stock after selling 55,381 shares during the period. Calamos Wealth Management LLC's holdings in Prologis were worth $289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CreativeOne Wealth LLC raised its stake in Prologis by 1.5% during the second quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust's stock worth $680,000 after acquiring an additional 82 shares in the last quarter. SevenOneSeven Capital Management increased its stake in shares of Prologis by 2.3% in the fourth quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust's stock valued at $427,000 after buying an additional 86 shares during the period. Family Legacy Inc. increased its stake in shares of Prologis by 0.5% in the fourth quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust's stock valued at $2,217,000 after buying an additional 87 shares during the period. Lockerman Financial Group Inc. increased its stake in shares of Prologis by 2.0% in the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust's stock valued at $587,000 after buying an additional 87 shares during the period. Finally, Hixon Zuercher LLC increased its stake in shares of Prologis by 0.6% in the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust's stock valued at $1,950,000 after buying an additional 88 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Down 1.1 %

Shares of Prologis stock traded down $1.20 on Friday, reaching $103.49. 6,932,203 shares of the company's stock were exchanged, compared to its average volume of 3,950,327. The company has a market capitalization of $95.73 billion, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 2.08 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 firm's 50-day moving average is $127.87 and its two-hundred day moving average is $122.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08.

Prologis (NYSE:PLD - Get Free Report) last posted 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 business had revenue of $1.89 billion for 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 quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 earnings per share. Sell-side analysts predict that Prologis, Inc. will post 5.47 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 3.71%. This is a boost 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 presently 112.28%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PLD shares. Raymond James upped their price objective on Prologis from $130.00 to $145.00 and gave the company a "strong-buy" rating in a research note on Wednesday, January 24th. Morgan Stanley upped their price objective on Prologis from $128.00 to $141.00 and gave the company an "overweight" rating in a research note on Wednesday, January 24th. Evercore ISI lowered their price objective on Prologis from $136.00 to $123.00 and set an "in-line" rating for the company in a research note on Thursday. Barclays lowered their price objective on Prologis from $141.00 to $135.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Mizuho reiterated a "neutral" rating and issued a $130.00 target price on shares of Prologis in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis presently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

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.