Prologis, Inc. (NYSE:PLD) Shares Sold by First Affirmative Financial Network

First Affirmative Financial Network lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 36.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,047 shares of the real estate investment trust’s stock after selling 1,160 shares during the period. First Affirmative Financial Network’s holdings in Prologis were worth $229,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis during the 4th quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis during the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Prologis during the 4th quarter valued at $30,000. REAP Financial Group LLC lifted its position in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 84 shares during the last quarter. Finally, Promus Capital LLC acquired a new stake in shares of Prologis during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PLD. Truist Financial cut their price objective on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Wells Fargo & Company cut their price objective on Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. CJS Securities cut their target price on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Morgan Stanley cut their target price on shares of Prologis to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, Barclays cut their target price on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. 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 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 $120.42.

Prologis Trading Up 1.0%

NYSE PLD opened at $108.91 on Friday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. 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 company has a market capitalization of $101.06 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The firm’s fifty day simple moving average is $103.68 and its 200-day simple moving average is $110.38.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping 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 business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio 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.