Prosperity Consulting Group LLC Has $923,000 Position in Prologis, Inc. (NYSE:PLD)

Prosperity Consulting Group LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 27.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,728 shares of the real estate investment trust's stock after selling 3,255 shares during the period. Prosperity Consulting Group LLC's holdings in Prologis were worth $923,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Prologis during the fourth quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new stake in Prologis in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis in the fourth quarter valued at about $30,000. Whipplewood Advisors LLC acquired a new stake in Prologis in the fourth quarter valued at about $34,000. Finally, Promus Capital LLC acquired a new stake in Prologis in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

NYSE PLD traded up $0.95 on Thursday, reaching $103.15. The company's stock had a trading volume of 3,955,563 shares, compared to its average volume of 4,145,301. The firm has a market cap of $95.62 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $108.38 and a 200 day moving average price of $112.22.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.92%. This is a boost from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis's payout ratio is presently 101.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Mizuho reduced their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Finally, Morgan Stanley reduced their price objective on Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $122.05.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.57% of the stock is owned by insiders.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.