Steel Grove Capital Advisors LLC Reduces Position in Prologis, Inc. (NYSE:PLD)

Steel Grove Capital Advisors LLC decreased its holdings in Prologis, Inc. (NYSE:PLD) by 28.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,872 shares of the real estate investment trust’s stock after selling 736 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Prologis were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. RB Capital Management LLC lifted its position in shares of Prologis by 14.7% during the first quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock worth $485,000 after acquiring an additional 385 shares in the last quarter. Blair William & Co. IL lifted its holdings in Prologis by 5.3% during the 1st quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock worth $3,490,000 after purchasing an additional 1,092 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Prologis by 87.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock worth $546,000 after purchasing an additional 1,580 shares during the period. Baird Financial Group Inc. grew its holdings in Prologis by 41.8% during the 1st quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock valued at $38,952,000 after buying an additional 71,112 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its position in shares of Prologis by 38.8% during the first quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock valued at $336,000 after buying an additional 581 shares during the period. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PLD shares. Robert W. Baird boosted their price objective on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Morgan Stanley upped their price target on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Raymond James upped their target price on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. Finally, Barclays dropped their price target on Prologis from $153.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $141.67.

Prologis Trading Up 1.1 %

Shares of Prologis stock traded up $1.42 during trading on Thursday, reaching $130.28. The company’s stock had a trading volume of 1,296,839 shares, compared to its average volume of 3,095,999. The company has a market cap of $120.52 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 2.50 and a beta of 1.00. The firm’s 50-day moving average is $130.52 and its two-hundred day moving average is $121.64. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50.

Prologis (NYSE:PLD) last released its 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). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm posted $1.24 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 2.95%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date is Friday, March 15th. Prologis’s payout ratio is presently 116.72%.

Prologis Profile

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.