AlphaStar Capital Management LLC Cuts Stock Position in Prologis, Inc. (NYSE:PLD)

AlphaStar Capital Management LLC lowered its holdings in Prologis, Inc. (NYSE:PLD) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,804 shares of the real estate investment trust’s stock after selling 296 shares during the period. AlphaStar Capital Management LLC’s holdings in Prologis were worth $649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cohen & Steers Inc. lifted its position in shares of 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 valued at $2,994,557,000 after buying an additional 882,529 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 valued at $2,252,853,000 after buying an additional 610,251 shares during the last quarter. FMR LLC lifted its position in shares of Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock valued at $1,889,747,000 after buying an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of 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 valued at $1,754,282,000 after buying an additional 334,907 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of 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 valued at $1,464,509,000 after buying an additional 4,893,284 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD opened at $106.96 on Tuesday. The business has a fifty day moving average of $106.87 and a 200 day moving average of $109.50. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market capitalization of $99.25 billion, a P/E ratio of 26.76, a PEG ratio of 2.74 and a beta of 1.23.

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

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Tuesday, June 17th. Prologis’s dividend payout ratio (DPR) is 101.00%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Robert W. Baird decreased their price objective on Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Wolfe Research lowered Prologis from an “outperform” rating to a “peer perform” rating in a research note 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. 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 report on Monday, May 19th. Finally, Mizuho cut their price objective on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.42.

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.