Tower Research Capital LLC TRC Sells 16,957 Shares of Prologis, Inc. (NYSE:PLD)

Tower Research Capital LLC TRC lessened its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 27.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,491 shares of the real estate investment trust's stock after selling 16,957 shares during the period. Tower Research Capital LLC TRC's holdings in Prologis were worth $4,808,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mirabella Financial Services LLP bought a new position in Prologis during the 4th quarter worth $1,365,000. MYDA Advisors LLC boosted its position in shares of Prologis by 98.5% during the 4th quarter. MYDA Advisors LLC now owns 138,933 shares of the real estate investment trust's stock valued at $14,685,000 after purchasing an additional 68,933 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Prologis by 1.3% in the fourth quarter. MetLife Investment Management LLC now owns 272,299 shares of the real estate investment trust's stock valued at $28,782,000 after buying an additional 3,468 shares in the last quarter. Natixis lifted its holdings in shares of Prologis by 3.8% during the fourth quarter. Natixis now owns 589,347 shares of the real estate investment trust's stock valued at $62,294,000 after purchasing an additional 21,348 shares during the last quarter. Finally, Norinchukin Bank The lifted its position in shares of Prologis by 4.0% in the 4th quarter. Norinchukin Bank The now owns 83,876 shares of the real estate investment trust's stock valued at $8,866,000 after acquiring an additional 3,228 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

PLD traded down $1.05 during trading on Friday, reaching $102.31. The stock had a trading volume of 2,828,184 shares, compared to its average volume of 4,148,129. The stock has a market cap of $94.84 billion, a PE ratio of 25.58, a PEG 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 quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The company 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, equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.95%. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is currently 101.00%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on 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 completion of the sale, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. CJS Securities dropped their price objective on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. BTIG Research cut their target price on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Truist Financial raised their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Finally, Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.32.

Prologis 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.