CVA Family Office LLC Sells 1,627 Shares of Prologis, Inc. (NYSE:PLD)

CVA Family Office LLC lowered its holdings in Prologis, Inc. (NYSE:PLD) by 78.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 440 shares of the real estate investment trust’s stock after selling 1,627 shares during the period. CVA Family Office LLC’s holdings in Prologis were worth $59,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cyndeo Wealth Partners LLC raised its position in shares of Prologis by 39.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares during the period. DNB Asset Management AS raised its position in shares of Prologis by 17.1% in the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after purchasing an additional 42,073 shares during the period. Grassi Investment Management increased its holdings in Prologis by 31.8% during the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after acquiring an additional 60,900 shares during the period. Selway Asset Management bought a new stake in Prologis during the 3rd quarter worth approximately $177,000. Finally, LDR Capital Management LLC bought a new stake in Prologis during the 3rd quarter worth approximately $969,000. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the topic of a number of analyst reports. Morgan Stanley upped their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Evercore ISI reaffirmed an “in-line” rating and set a $136.00 target price on shares of Prologis in a report on Monday, March 18th. Royal Bank of Canada upped their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. Finally, Robert W. Baird upped their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $141.67.

Prologis Price Performance

Shares of Prologis stock opened at $128.87 on Thursday. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock has a market capitalization of $119.21 billion, a price-to-earnings ratio of 39.17, a price-to-earnings-growth ratio of 2.54 and a beta of 1.00. The company has a fifty day moving average of $130.52 and a 200-day moving average of $121.64. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the company posted $1.24 EPS. Prologis’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts expect that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 18th will be given a dividend of $0.96 per share. The ex-dividend date is Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 2.98%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is presently 116.72%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.