Stifel Financial Corp Sells 16,192 Shares of Prologis, Inc. (NYSE:PLD)

Stifel Financial Corp trimmed its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,896,614 shares of the real estate investment trust's stock after selling 16,192 shares during the quarter. Stifel Financial Corp owned approximately 0.20% of Prologis worth $200,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis in the 4th quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis during the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Prologis during the fourth quarter valued at about $30,000. Whipplewood Advisors LLC bought a new stake in shares of Prologis during the fourth quarter worth about $34,000. Finally, Promus Capital LLC acquired a new position in shares of Prologis in the fourth quarter valued at approximately $34,000. Institutional investors own 93.50% of the company's stock.

Prologis Stock Down 1.0 %

Shares of PLD stock traded down $1.05 on Friday, hitting $102.31. The stock had a trading volume of 2,828,184 shares, compared to its average volume of 4,148,129. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The stock has a market cap of $94.84 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The business has a 50 day moving average of $109.48 and a 200 day moving average of $112.56. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

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 for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. As a group, 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. Stockholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.95%. Prologis's dividend payout ratio (DPR) is currently 101.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Evercore ISI lowered their target price on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research report on Thursday, April 17th. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Scotiabank restated a "sector underperform" rating and set a $97.00 price objective (down from $133.00) on shares of Prologis in a research report on Monday, April 7th. Finally, Morgan Stanley reduced their target price on Prologis to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $123.32.

Insider Buying and Selling

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

About Prologis

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.