Fiduciary Trust Co Sells 1,109 Shares of Prologis, Inc. (NYSE:PLD)

Fiduciary Trust Co lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,977 shares of the real estate investment trust’s stock after selling 1,109 shares during the quarter. Fiduciary Trust Co’s holdings in Prologis were worth $4,543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FORA Capital LLC purchased a new position in Prologis in the fourth quarter worth about $417,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Prologis by 9.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,632,063 shares of the real estate investment trust’s stock worth $1,018,109,000 after purchasing an additional 796,030 shares during the period. EP Wealth Advisors LLC increased its position in shares of Prologis by 2.0% during the 4th quarter. EP Wealth Advisors LLC now owns 14,710 shares of the real estate investment trust’s stock valued at $1,555,000 after purchasing an additional 292 shares during the last quarter. Colonial Trust Co SC raised its holdings in Prologis by 17.2% during the 4th quarter. Colonial Trust Co SC now owns 1,194 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 175 shares during the period. Finally, Crestline Management LP bought a new stake in Prologis in the fourth quarter worth $1,161,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Up 1.4 %

NYSE:PLD opened at $106.97 on Friday. The firm has a 50-day simple moving average of $105.95 and a 200-day simple moving average of $111.43. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The firm has a market cap of $99.26 billion, a P/E ratio of 26.74, a P/E/G ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Tuesday, June 17th. Prologis’s payout ratio is currently 101.00%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PLD shares. BTIG Research reduced their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Mizuho reduced their price objective on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Morgan Stanley decreased their price objective on shares of Prologis to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Robert W. Baird cut their target price on Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.68.

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.