Prologis, Inc. (NYSE:PLD) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC cut its position in shares of Prologis, Inc. (NYSE:PLD) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,506 shares of the real estate investment trust’s stock after selling 1,417 shares during the quarter. Mattern Capital Management LLC’s holdings in Prologis were worth $8,217,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aviva PLC raised its holdings in shares of Prologis by 36.6% in the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock worth $73,481,000 after acquiring an additional 186,187 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 worth $82,907,000 after acquiring an additional 179,880 shares during the last quarter. Allstate Corp raised its holdings in shares of Prologis by 111.7% in 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. First Citizens Bank & Trust Co. raised its holdings in shares of Prologis by 1,451.2% in the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust’s stock worth $3,486,000 after acquiring an additional 29,170 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its holdings in shares of Prologis by 3.1% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust’s stock worth $615,000 after acquiring an additional 167 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

PLD stock opened at $108.20 on Wednesday. The stock has a 50-day moving average price of $106.00 and a two-hundred day moving average price of $109.66. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. The company has a market cap of $100.40 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25.

Prologis (NYSE:PLD) last posted its quarterly 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 return on equity of 6.45% and a net margin of 44.59%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently announced 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. This represents a $4.04 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s payout ratio is 101.00%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PLD shares. Robert W. Baird cut their price target on Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. BMO Capital Markets cut their price target on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Wells Fargo & Company cut their price target on Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Royal Bank Of Canada lowered their price objective on Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Finally, CJS Securities lowered their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.42.

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.