Prologis, Inc. (NYSE:PLD) Shares Sold by Capital Asset Advisory Services LLC

Posted by on Jun 18th, 2023

Capital Asset Advisory Services LLC decreased its position in Prologis, Inc. (NYSE:PLD – Get Rating) by 33.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,800 shares of the real estate investment trust’s stock after selling 1,384 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Prologis were worth $328,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its holdings in Prologis by 2.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 260,120 shares of the real estate investment trust’s stock worth $29,322,000 after purchasing an additional 7,275 shares in the last quarter. Voya Investment Management LLC raised its holdings in Prologis by 13.9% during the fourth quarter. Voya Investment Management LLC now owns 1,848,468 shares of the real estate investment trust’s stock worth $208,378,000 after purchasing an additional 225,071 shares in the last quarter. Garde Capital Inc. acquired a new stake in Prologis during the fourth quarter worth approximately $102,000. Bbjs Financial Advisors LLC acquired a new stake in Prologis during the fourth quarter worth approximately $419,000. Finally, Tandem Wealth Advisors LLC acquired a new stake in Prologis during the fourth quarter worth approximately $188,000. Institutional investors and hedge funds own 75.84% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of a number of research analyst reports. UBS Group raised their price objective on shares of Prologis from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Robert W. Baird upped their price target on shares of Prologis from $125.00 to $133.00 and gave the company a “neutral” rating in a research report on Thursday, April 20th. Mizuho started coverage on shares of Prologis in a research report on Monday, March 20th. They issued a “buy” rating and a $140.00 price target for the company. The Goldman Sachs Group upped their price target on shares of Prologis from $157.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. Finally, StockNews.com started coverage on shares of Prologis in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.90.

Prologis Stock Performance

NYSE:PLD opened at $122.63 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.44. Prologis, Inc. has a fifty-two week low of $98.03 and a fifty-two week high of $138.86. The stock has a market cap of $113.25 billion, a PE ratio of 37.05, a price-to-earnings-growth ratio of 2.90 and a beta of 1.00. The firm’s fifty day simple moving average is $123.55 and its 200-day simple moving average is $121.85.

Prologis (NYSE:PLD – Get Rating) last posted its quarterly earnings results on Tuesday, April 18th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.71). Prologis had a return on equity of 5.54% and a net margin of 41.06%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was up 64.3% compared to the same quarter last year. Analysts expect that Prologis, Inc. will post 5.49 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.84%. Prologis’s payout ratio is 105.14%.

Prologis Company Profile

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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2022, 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 (113 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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