Prologis, Inc. (NYSE:PLD) Shares Sold by Graypoint LLC

by · The Markets Daily

Graypoint LLC decreased its holdings in Prologis, Inc. (NYSE:PLD – Free Report) by 12.5% during the 4th quarter, HoldingsChannel reports. The fund owned 4,124 shares of the real estate investment trust’s stock after selling 590 shares during the quarter. Graypoint LLC’s holdings in Prologis were worth $436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sunflower Bank N.A. purchased a new stake in Prologis during the 3rd quarter worth approximately $249,000. Coronation Fund Managers Ltd. bought a new stake in shares of Prologis in the second quarter worth $878,000. DekaBank Deutsche Girozentrale boosted its stake in Prologis by 2.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after acquiring an additional 29,400 shares during the last quarter. Cardano Risk Management B.V. bought a new position in Prologis during the 3rd quarter valued at $109,579,000. Finally, Worldquant Millennium Advisors LLC acquired a new position in Prologis during the 3rd quarter worth $1,051,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

PLD opened at $103.65 on Friday. The business has a fifty day simple moving average of $110.94 and a 200-day simple moving average of $118.45. The firm has a market cap of $96.00 billion, a PE ratio of 31.31, a P/E/G ratio of 3.27 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

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

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is 116.01%.

Wall Street Analyst Weigh In

A number of research firms have commented on PLD. Scotiabank reduced their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a report on Wednesday, December 4th. Evercore ISI upped their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, Raymond James reissued an “outperform” rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.06.

View Our Latest Analysis on PLD

About Prologis

(Free Report)

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.

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