Ascent Group LLC Reduces Holdings in Prologis, Inc. (NYSE:PLD)

Ascent Group LLC lowered its stake in Prologis, Inc. (NYSE:PLD) by 0.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,800 shares of the real estate investment trust’s stock after selling 115 shares during the quarter. Ascent Group LLC’s holdings in Prologis were worth $2,448,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after acquiring an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Prologis by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after purchasing an additional 365,904 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Prologis by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock worth $1,642,997,000 after buying an additional 123,902 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Prologis by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after buying an additional 175,276 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PLD shares. UBS Group decreased their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Robert W. Baird decreased their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Royal Bank of Canada decreased their price target on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Finally, Barclays cut their price objective on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $129.67.

Prologis Trading Up 1.0 %

Shares of PLD stock traded up $1.27 during mid-day trading on Monday, reaching $123.95. The company’s stock had a trading volume of 2,368,968 shares, compared to its average volume of 3,747,387. The company has a quick ratio of 0.29, a current ratio of 0.10 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $114.76 billion, a PE ratio of 36.24, a price-to-earnings-growth ratio of 2.90 and a beta of 1.06. The company’s 50 day simple moving average is $113.37 and its 200-day simple moving average is $119.83. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company posted $1.83 earnings per share. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. On average, research analysts predict that Prologis, Inc. will post 5.43 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio (DPR) is 112.28%.

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.