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

by · The Markets Daily

Cedrus LLC decreased its position in Prologis, Inc. (NYSE:PLD – Free Report) by 9.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,979 shares of the real estate investment trust’s stock after selling 198 shares during the period. Cedrus LLC’s holdings in Prologis were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. CreativeOne Wealth LLC increased its holdings in shares of Prologis by 1.5% during the 2nd quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust’s stock worth $680,000 after purchasing an additional 82 shares during the period. SevenOneSeven Capital Management raised its holdings in Prologis by 2.3% in the 4th quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 86 shares in the last quarter. Family Legacy Inc. lifted its position in shares of Prologis by 0.5% in the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after acquiring an additional 87 shares during the period. Lockerman Financial Group Inc. grew its holdings in shares of Prologis by 2.0% during the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after purchasing an additional 87 shares in the last quarter. Finally, Hixon Zuercher LLC increased its position in shares of Prologis by 0.6% during the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock valued at $1,950,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PLD shares. Robert W. Baird lifted their price objective on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a report on Tuesday, January 23rd. JPMorgan Chase & Co. upgraded Prologis from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $123.00 to $148.00 in a research report on Monday, December 18th. Raymond James lifted their price target on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Scotiabank increased their price objective on shares of Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a report on Friday, December 15th. Finally, Mizuho reissued a “neutral” rating and set a $130.00 price target on shares of Prologis in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $141.67.

Check Out Our Latest Analysis on PLD

Prologis Stock Down 1.0 %

Shares of Prologis stock traded down $1.26 during trading hours on Thursday, reaching $119.36. 731,093 shares of the company’s stock were exchanged, compared to its average volume of 3,149,376. The stock has a market cap of $110.41 billion, a P/E ratio of 36.66, a P/E/G ratio of 2.52 and a beta of 1.00. The company has a 50 day moving average of $130.39 and a two-hundred day moving average of $122.08. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

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

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.22%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio is currently 116.72%.

Prologis Profile

(Free Report)

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.

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