Premier Path Wealth Partners LLC Sells 1,245 Shares of Prologis, Inc. (NYSE:PLD)

Premier Path Wealth Partners LLC reduced its stake in Prologis, Inc. (NYSE:PLD) by 23.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,107 shares of the real estate investment trust’s stock after selling 1,245 shares during the period. Premier Path Wealth Partners LLC’s holdings in Prologis were worth $434,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PLD. Empirical Asset Management LLC grew its position in shares of Prologis by 339.0% during the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 52,963 shares during the period. Sunflower Bank N.A. acquired a new position in Prologis during the third quarter valued at approximately $249,000. Cardano Risk Management B.V. increased its stake in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Coronation Fund Managers Ltd. acquired a new stake in Prologis in the second quarter worth $878,000. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Prologis by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after purchasing an additional 29,400 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Down 1.3 %

Shares of Prologis stock opened at $109.51 on Friday. The stock has a market cap of $101.43 billion, a P/E ratio of 33.09, a P/E/G ratio of 2.85 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The business’s 50 day moving average is $110.34 and its 200-day moving average is $118.29.

Prologis (NYSE:PLD) last posted its quarterly earnings results 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 return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company posted $1.30 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.51%. Prologis’s payout ratio is 116.01%.

Analyst Ratings Changes

Several brokerages recently commented on PLD. JPMorgan Chase & Co. dropped their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Raymond James reiterated an “outperform” rating and set a $125.00 price objective (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Truist Financial lowered their target price on Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a research note on Friday. Mizuho cut their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Company 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.