Ascent Group LLC Sells 9,303 Shares of Prologis, Inc. (NYSE:PLD)

Ascent Group LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 62.4% during the 4th quarter, HoldingsChannel reports. The firm owned 5,603 shares of the real estate investment trust’s stock after selling 9,303 shares during the period. Ascent Group LLC’s holdings in Prologis were worth $592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cohen & Steers Inc. boosted its position in Prologis by 3.2% during the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock worth $2,994,557,000 after buying an additional 882,529 shares during the period. Geode Capital Management LLC boosted its position in Prologis by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock worth $2,252,853,000 after buying an additional 610,251 shares during the period. FMR LLC boosted its position in Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after buying an additional 1,875,978 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Prologis by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock worth $1,754,282,000 after buying an additional 334,907 shares during the period. Finally, Northern Trust Corp boosted its position in Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock worth $1,464,509,000 after buying an additional 4,893,284 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Stock Up 2.5%

Prologis stock opened at $106.63 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The firm’s fifty day moving average is $103.98 and its 200 day moving average is $110.71. The company has a market capitalization of $98.94 billion, a PE ratio of 26.66, a PEG ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last released its 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. 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 the consensus estimate of $1.99 billion. As a group, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.79%. Prologis’s payout ratio is 101.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PLD shares. BMO Capital Markets cut their target price on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Robert W. Baird cut their target price on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Evercore ISI cut their target price on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research report on Thursday, April 17th. UBS Group lifted their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, CJS Securities dropped their price target on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $120.42.

Prologis Company 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.