Tilt Investment Management Holdings PBC Trims Stock Position in Prologis, Inc. (NYSE:PLD)

Tilt Investment Management Holdings PBC decreased its position in Prologis, Inc. (NYSE:PLD) by 25.1% in the fourth quarter, Holdings Channel reports. The firm owned 3,802 shares of the real estate investment trust’s stock after selling 1,271 shares during the period. Tilt Investment Management Holdings PBC’s holdings in Prologis were worth $507,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PLD. Thompson Investment Management Inc. purchased a new stake in shares of Prologis in the 4th quarter worth $28,000. FinTrust Capital Advisors LLC lifted its stake in Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 232 shares during the period. Salem Investment Counselors Inc. purchased a new position in Prologis during the 4th quarter valued at about $37,000. Fairfield Bush & CO. bought a new stake in shares of Prologis in the 2nd quarter valued at about $35,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Prologis in the 4th quarter valued at about $39,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of a number of recent research reports. Morgan Stanley increased their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Mizuho reaffirmed a “neutral” rating and set a $130.00 target price on shares of Prologis in a research report on Tuesday, April 2nd. Raymond James boosted their price target on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. Evercore ISI dropped their price objective on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada lifted their target price on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Prologis Stock Performance

PLD traded down $1.82 on Thursday, reaching $104.67. 3,827,726 shares of the stock were exchanged, compared to its average volume of 3,360,962. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The company’s 50-day moving average price is $128.99 and its 200 day moving average price is $122.19. The firm has a market capitalization of $96.82 billion, a PE ratio of 31.56, a PEG ratio of 2.29 and a beta of 1.00. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the company earned $1.24 EPS. Prologis’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is 116.72%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.