Rise Advisors LLC Sells 109 Shares of Prologis, Inc. (NYSE:PLD)

Rise Advisors LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 18.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 498 shares of the real estate investment trust’s stock after selling 109 shares during the quarter. Rise Advisors LLC’s holdings in Prologis were worth $53,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Coronation Fund Managers Ltd. bought a new stake in shares of Prologis in the 2nd quarter valued at about $878,000. MainStreet Investment Advisors LLC purchased a new stake in Prologis during the second quarter worth $538,000. Caprock Group LLC boosted its position in Prologis by 23.8% during the 2nd quarter. Caprock Group LLC now owns 13,990 shares of the real estate investment trust’s stock valued at $1,571,000 after acquiring an additional 2,687 shares in the last quarter. Arbor Capital Management Inc. ADV increased its holdings in shares of Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after acquiring an additional 87 shares during the period. Finally, First Foundation Advisors raised its position in shares of Prologis by 1,873.9% in the 2nd quarter. First Foundation Advisors now owns 38,866 shares of the real estate investment trust’s stock worth $4,365,000 after acquiring an additional 36,897 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PLD. Scotiabank cut their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $124.00 to $123.00 in a research report on Monday. Evercore ISI lifted their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $129.25.

Prologis Stock Performance

NYSE:PLD traded down $0.25 during midday trading on Tuesday, hitting $106.41. The company’s stock had a trading volume of 1,517,586 shares, compared to its average volume of 3,416,612. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. 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 firm has a market cap of $98.55 billion, a P/E ratio of 32.15, a P/E/G ratio of 3.27 and a beta of 1.09. The firm’s 50 day moving average is $111.66 and its 200-day moving average is $118.64.

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

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.61%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Prologis Profile

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.