Prologis, Inc. (NYSE:PLD) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc decreased its position in shares of Prologis, Inc. (NYSE:PLDFree Report) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,974 shares of the real estate investment trust’s stock after selling 123 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Prologis were worth $396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Thompson Investment Management Inc. acquired a new position in Prologis in the fourth quarter valued at about $28,000. VitalStone Financial LLC acquired a new position in Prologis in the second quarter valued at about $27,000. DHJJ Financial Advisors Ltd. acquired a new position in Prologis in the third quarter valued at about $29,000. FinTrust Capital Advisors LLC lifted its position in Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. Finally, Salem Investment Counselors Inc. acquired a new position in Prologis in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.4 %

PLD stock opened at $126.09 on Thursday. The company’s 50 day moving average price is $130.61 and its 200 day moving average price is $121.85. 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, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The firm has a market capitalization of $116.64 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 2.56 and a beta of 1.00.

Prologis (NYSE:PLDGet Free Report) last released its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 earnings per share. On average, equities research analysts anticipate that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.05%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio is 116.72%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLD. Royal Bank of Canada upped their target price on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, December 14th. Evercore ISI reiterated an “in-line” rating and set a $136.00 price target on shares of Prologis in a research note on Monday, March 18th. Scotiabank boosted their price target on shares of Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a research note on Friday, December 15th. Finally, Morgan Stanley boosted their price target on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $141.67.

Read Our Latest Analysis on PLD

Prologis Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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