Ellevest Inc. Sells 906 Shares of Prologis, Inc. (NYSE:PLD)

Ellevest Inc. cut its holdings in Prologis, Inc. (NYSE:PLD) by 12.6% in the fourth quarter, Holdings Channel reports. The fund owned 6,298 shares of the real estate investment trust’s stock after selling 906 shares during the quarter. Ellevest Inc.’s holdings in Prologis were worth $666,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Empirical Asset Management LLC lifted its position in shares of Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. grew its stake in Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares during the last quarter. Aviva PLC increased its position in Prologis by 36.6% during the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock valued at $73,481,000 after buying an additional 186,187 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after buying an additional 179,880 shares during the last quarter. Finally, Allstate Corp grew its stake in shares of Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock worth $7,877,000 after acquiring an additional 39,321 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the topic of several research analyst reports. Barclays dropped their target price on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets reduced their target price on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. UBS Group increased their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Prologis Price Performance

Shares of Prologis stock opened at $106.97 on Friday. The stock has a market capitalization of $99.26 billion, a P/E ratio of 26.74, a PEG ratio of 2.70 and a beta of 1.25. The business has a 50 day simple moving average of $105.95 and a two-hundred day simple moving average of $111.43. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. 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) 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 the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. As a group, analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.78%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

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.