Continuum Advisory LLC Lowers Stock Position in Prologis, Inc. (NYSE:PLD)

Continuum Advisory LLC cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 40.5% during the first quarter, Holdings Channel.com reports. The firm owned 1,072 shares of the real estate investment trust’s stock after selling 730 shares during the period. Continuum Advisory LLC’s holdings in Prologis were worth $120,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PLD. Cohen & Steers Inc. raised its position in shares of Prologis by 3.2% in the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock worth $2,994,557,000 after acquiring an additional 882,529 shares in the last quarter. Geode Capital Management LLC grew its stake in Prologis by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock valued at $2,252,853,000 after purchasing an additional 610,251 shares during the last quarter. FMR LLC raised its holdings in Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Prologis by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock valued at $1,754,282,000 after buying an additional 334,907 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Scotiabank upped their price target on Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research report on Monday, May 12th. Royal Bank Of Canada lowered their price objective on Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Finally, BMO Capital Markets decreased their price target on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.42.

Prologis Stock Performance

Shares of NYSE PLD opened at $104.91 on Thursday. The company has a 50 day simple moving average of $106.08 and a two-hundred day simple moving average of $109.63. The stock has a market cap of $97.35 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 2.74 and a beta of 1.25. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. As a group, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.85%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

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.