Trust Point Inc. Reduces Stake in Prologis, Inc. (NYSE:PLD)

Trust Point Inc. lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 36.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,230 shares of the real estate investment trust’s stock after selling 1,279 shares during the quarter. Trust Point Inc.’s holdings in Prologis were worth $249,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in Prologis during the fourth quarter valued at approximately $951,263,000. Northern Trust Corp boosted its holdings in Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares during the period. Capital Research Global Investors grew its position in shares of Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock valued at $1,304,922,000 after purchasing an additional 2,500,761 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Prologis during the 4th quarter valued at $254,876,000. Finally, FMR LLC increased its holdings in shares of Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wolfe Research cut Prologis from an “outperform” rating to a “peer perform” rating in a research report on Monday, April 21st. BMO Capital Markets cut their price objective on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Wall Street Zen downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research note on Saturday. Royal Bank Of Canada cut their price target on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 29th. Finally, Barclays decreased their price target on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.42.

Prologis Trading Down 1.7%

NYSE PLD opened at $105.03 on Wednesday. The firm has a market cap of $97.46 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The stock has a 50-day moving average of $105.09 and a 200-day moving average of $109.95. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 3.85%. The ex-dividend date is Tuesday, June 17th. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

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.