International Assets Investment Management LLC Sells 757 Shares of Prologis, Inc. (NYSE:PLD)

International Assets Investment Management LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 23.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,513 shares of the real estate investment trust’s stock after selling 757 shares during the period. International Assets Investment Management LLC’s holdings in Prologis were worth $281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Prologis during the fourth quarter valued at approximately $951,263,000. Northern Trust Corp boosted its holdings in Prologis by 54.6% during 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 acquiring an additional 4,893,284 shares during the period. Capital Research Global Investors grew its position in Prologis by 25.4% in the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock valued at $1,304,922,000 after acquiring an additional 2,500,761 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Prologis in the fourth quarter worth $254,876,000. Finally, FMR LLC raised its stake in shares of Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock valued at $1,889,747,000 after acquiring an additional 1,875,978 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD stock opened at $105.58 on Friday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. The stock has a market cap of $97.97 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The business has a fifty day moving average of $106.21 and a two-hundred day moving average of $109.50.

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

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio (DPR) is 101.00%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PLD. Barclays reduced their price objective on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Mizuho cut their target price on Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Scotiabank lifted their price objective on shares of Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a research note on Monday, May 12th. BMO Capital Markets lowered their target price on Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, Evercore ISI dropped their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.42.

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.