Keel Point LLC Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Keel Point LLC reduced its position in Prologis, Inc. (NYSE:PLD) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,407 shares of the real estate investment trust’s stock after selling 180 shares during the period. Keel Point LLC’s holdings in Prologis were worth $321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CreativeOne Wealth LLC lifted its holdings in shares of Prologis by 1.5% during the second quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust’s stock valued at $680,000 after purchasing an additional 82 shares in the last quarter. SevenOneSeven Capital Management lifted its stake in Prologis by 2.3% during the 4th quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 86 shares during the period. Family Legacy Inc. lifted its stake in Prologis by 0.5% during the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock valued at $2,217,000 after acquiring an additional 87 shares during the period. Lockerman Financial Group Inc. boosted its holdings in shares of Prologis by 2.0% during the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after acquiring an additional 87 shares during the last quarter. Finally, Hixon Zuercher LLC raised its holdings in shares of Prologis by 0.6% during 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 purchasing an additional 88 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Raymond James raised their target price on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. Evercore ISI restated an “in-line” rating and set a $136.00 target price on shares of Prologis in a research note on Monday, March 18th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Robert W. Baird increased their price objective on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 23rd. Finally, Barclays lowered their target price on shares of Prologis from $153.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $141.67.

Prologis Trading Down 0.9 %

Shares of PLD opened at $114.73 on Wednesday. The stock has a market capitalization of $106.13 billion, a PE ratio of 34.87, a P/E/G ratio of 2.38 and a beta of 1.00. The company’s fifty day moving average is $129.44 and its 200 day moving average is $122.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a return on equity of 5.29% and a net margin of 38.13%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is presently 116.72%.

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.