Fifth Third Wealth Advisors LLC Reduces Holdings in Prologis, Inc. (NYSE:PLD)

Fifth Third Wealth Advisors LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 28.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,747 shares of the real estate investment trust’s stock after selling 4,596 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Prologis were worth $1,242,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PLD. Coronation Fund Managers Ltd. acquired a new stake in shares of Prologis during the second quarter valued at $878,000. Brown Brothers Harriman & Co. boosted its stake in shares of Prologis by 362.9% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 3,930 shares of the real estate investment trust’s stock worth $441,000 after purchasing an additional 3,081 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Prologis during the 2nd quarter worth about $241,000. Perennial Investment Advisors LLC raised its position in shares of Prologis by 21.4% in the second quarter. Perennial Investment Advisors LLC now owns 2,250 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 396 shares during the last quarter. Finally, Wealth Alliance raised its position in shares of Prologis by 4.8% in the second quarter. Wealth Alliance now owns 11,888 shares of the real estate investment trust’s stock valued at $1,335,000 after buying an additional 541 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $107.97 on Thursday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market cap of $100.00 billion, a PE ratio of 32.62, a P/E/G ratio of 3.27 and a beta of 1.09. The company’s fifty day simple moving average is $110.65 and its 200-day simple moving average is $118.43. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.56%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Analyst Upgrades and Downgrades

Several research firms have commented on PLD. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Truist Financial dropped their price objective on shares of Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Finally, Scotiabank decreased their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.06.

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.