Ellevest Inc. Lowers Holdings in Prologis, Inc. (NYSE:PLD)

Ellevest Inc. trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 12.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,298 shares of the real estate investment trust’s stock after selling 906 shares during the quarter. Ellevest Inc.’s holdings in Prologis were worth $666,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ethic Inc. raised its holdings in Prologis by 12.1% in the 4th quarter. Ethic Inc. now owns 92,056 shares of the real estate investment trust’s stock worth $9,730,000 after acquiring an additional 9,915 shares during the last quarter. First Manhattan CO. LLC. lifted its holdings in shares of Prologis by 120.9% during the fourth quarter. First Manhattan CO. LLC. now owns 12,095 shares of the real estate investment trust’s stock valued at $1,278,000 after purchasing an additional 6,619 shares in the last quarter. FORA Capital LLC purchased a new stake in shares of Prologis during the 4th quarter valued at about $417,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Prologis by 9.0% during the fourth 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 valued at $1,018,109,000 after purchasing an additional 796,030 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its position in Prologis by 2.0% during the fourth 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 period. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

Prologis stock opened at $106.97 on Friday. The company has a market cap of $99.26 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 2.70 and a beta of 1.25. 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 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average is $105.95 and its 200 day moving average is $111.43.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

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

Wall Street Analyst Weigh In

PLD has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on shares of Prologis to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Mizuho lowered their target price on Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Evercore ISI cut their price target on Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research note on Thursday, April 17th. Royal Bank of Canada lowered their price objective on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. Finally, Barclays cut their target price on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.