Prologis, Inc. (NYSE:PLD) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its stake in Prologis, Inc. (NYSE:PLD) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,374 shares of the real estate investment trust’s stock after selling 440 shares during the period. Fred Alger Management LLC’s holdings in Prologis were worth $2,576,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Phoenix Financial Ltd. lifted its position in Prologis by 1.0% during the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock valued at $955,000 after buying an additional 86 shares in the last quarter. Principle Wealth Partners LLC lifted its holdings in shares of Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after acquiring an additional 92 shares in the last quarter. Black Diamond Financial LLC increased its holdings in Prologis by 2.2% in the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 93 shares in the last quarter. Berkshire Bank raised its position in Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares during the period. Finally, CreativeOne Wealth LLC lifted its stake in shares of Prologis by 1.7% during the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust’s stock worth $642,000 after purchasing an additional 100 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Up 1.4 %

Prologis stock opened at $106.97 on Friday. 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, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The firm’s 50-day moving average is $105.95 and its 200-day moving average is $111.43. The company has a market cap of $99.26 billion, a P/E ratio of 26.74, a PEG ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, equities analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company 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 $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.78%. Prologis’s dividend payout ratio is presently 101.00%.

Analyst Upgrades and Downgrades

PLD has been the topic of several analyst reports. Morgan Stanley dropped their target price on Prologis to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. BMO Capital Markets reduced their target price on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Evercore ISI lowered their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, Robert W. Baird dropped their target price on Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.68.

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.