Prologis, Inc. (NYSE:PLD) Shares Sold by Alteri Wealth LLC

Alteri Wealth LLC trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,112 shares of the real estate investment trust’s stock after selling 238 shares during the quarter. Alteri Wealth LLC’s holdings in Prologis were worth $683,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PLD. Texas Yale Capital Corp. grew its position in Prologis by 7.0% in the 1st quarter. Texas Yale Capital Corp. now owns 49,289 shares of the real estate investment trust’s stock valued at $5,510,000 after buying an additional 3,220 shares during the last quarter. Atlantic Family Wealth LLC grew its position in Prologis by 7.5% in the 1st quarter. Atlantic Family Wealth LLC now owns 2,046 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 142 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Prologis by 2.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 801,868 shares of the real estate investment trust’s stock valued at $89,641,000 after buying an additional 17,508 shares during the last quarter. FourThought Financial Partners LLC grew its position in Prologis by 53.8% in the 1st quarter. FourThought Financial Partners LLC now owns 34,255 shares of the real estate investment trust’s stock valued at $3,829,000 after buying an additional 11,986 shares during the last quarter. Finally, TD Asset Management Inc grew its position in Prologis by 1.1% in the 1st quarter. TD Asset Management Inc now owns 350,424 shares of the real estate investment trust’s stock valued at $39,174,000 after buying an additional 3,869 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on PLD. BMO Capital Markets lowered their price objective 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. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an “overweight” rating in a research report on Sunday, July 13th. Citigroup lowered their price objective on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley decreased their target price on shares of Prologis to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.74.

Prologis Trading Up 0.5%

NYSE:PLD opened at $110.23 on Friday. The company has a market capitalization of $102.29 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23. The company has a quick ratio of 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The stock has a fifty day simple moving average of $107.48 and a 200-day simple moving average of $109.77.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 EPS. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were paid a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.66%. Prologis’s payout ratio is currently 109.49%.

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.