Hudson Valley Investment Advisors Inc. ADV Sells 1,248 Shares of Prologis, Inc. (NYSE:PLD)

Hudson Valley Investment Advisors Inc. ADV lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 58,060 shares of the real estate investment trust’s stock after selling 1,248 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Prologis were worth $6,137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunflower Bank N.A. acquired a new stake in shares of Prologis during the third quarter worth about $249,000. Coronation Fund Managers Ltd. acquired a new stake in Prologis during the 2nd quarter worth approximately $878,000. DekaBank Deutsche Girozentrale lifted its stake in Prologis by 2.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after buying an additional 29,400 shares in the last quarter. Cardano Risk Management B.V. acquired a new position in shares of Prologis in the third quarter valued at approximately $109,579,000. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Prologis during the third quarter worth $1,051,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Raymond James reaffirmed an “outperform” rating and issued a $125.00 price objective (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Scotiabank decreased their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Evercore ISI upped their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.06.

Prologis Stock Down 1.0 %

Prologis stock opened at $105.53 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The company’s 50-day moving average is $111.13 and its 200-day moving average is $118.44. The firm has a market capitalization of $97.74 billion, a PE ratio of 31.88, a P/E/G ratio of 3.27 and a beta of 1.09. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the company earned $1.30 EPS. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.64%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is 116.01%.

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.