Legacy Wealth Asset Management LLC Lowers Holdings in Prologis, Inc. (NYSE:PLD)

Legacy Wealth Asset Management LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 16.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,312 shares of the real estate investment trust’s stock after selling 1,210 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Prologis were worth $667,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ASB Consultores LLC increased its position in Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares during the period. CX Institutional boosted its stake in shares of Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 88 shares in the last quarter. DT Investment Partners LLC increased its holdings in Prologis by 9.8% during the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 93 shares during the period. Carmel Capital Partners LLC raised its stake in Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after buying an additional 94 shares in the last quarter. Finally, Yoder Wealth Management Inc. lifted its holdings in Prologis by 4.0% during the third quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock worth $316,000 after buying an additional 97 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLD has been the subject of several recent research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $124.00 to $123.00 in a research report on Monday, January 6th. Mizuho cut their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Wolfe Research decreased their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Scotiabank cut their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.67.

Prologis Price Performance

NYSE:PLD opened at $109.51 on Friday. The stock has a market capitalization of $101.43 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock’s 50-day moving average price is $110.47 and its 200-day moving average price is $118.31.

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

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.51%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 116.01%.

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.