MainStreet Investment Advisors LLC Trims Holdings in Prologis, Inc. (NYSE:PLD)

MainStreet Investment Advisors LLC lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 11.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,474 shares of the real estate investment trust’s stock after selling 579 shares during the period. MainStreet Investment Advisors LLC’s holdings in Prologis were worth $473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Prologis by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 48,108 shares of the real estate investment trust’s stock worth $5,085,000 after buying an additional 1,898 shares during the last quarter. Grassi Investment Management lifted its position in Prologis by 1.0% during the 4th quarter. Grassi Investment Management now owns 254,325 shares of the real estate investment trust’s stock worth $26,882,000 after acquiring an additional 2,400 shares during the period. Leibman Financial Services Inc. grew its stake in shares of Prologis by 25.6% in the 4th quarter. Leibman Financial Services Inc. now owns 18,794 shares of the real estate investment trust’s stock valued at $1,987,000 after purchasing an additional 3,828 shares during the last quarter. Tuttle Capital Management LLC increased its holdings in shares of Prologis by 34.7% in the fourth quarter. Tuttle Capital Management LLC now owns 2,577 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 664 shares during the period. Finally, 180 Wealth Advisors LLC increased its holdings in shares of Prologis by 7.0% in the fourth quarter. 180 Wealth Advisors LLC now owns 22,426 shares of the real estate investment trust’s stock valued at $2,370,000 after purchasing an additional 1,469 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Wolfe Research cut shares of Prologis from an “outperform” rating to a “peer perform” rating in a research note on Monday, April 21st. BMO Capital Markets dropped their price target on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. UBS Group raised their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Robert W. Baird lowered their price objective on Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.84.

Prologis Trading Down 0.5%

Shares of PLD opened at $109.74 on Wednesday. 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 firm’s 50-day moving average is $105.46 and its two-hundred day moving average is $111.24. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The firm has a market capitalization of $101.83 billion, a P/E ratio of 27.44, a PEG ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate 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. On average, research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm 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 is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.68%. Prologis’s dividend payout ratio is presently 101.00%.

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.