Venturi Wealth Management LLC Cuts Holdings in Prologis, Inc. (NYSE:PLD)

Venturi Wealth Management LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLDFree Report) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,072 shares of the real estate investment trust’s stock after selling 344 shares during the quarter. Venturi Wealth Management LLC’s holdings in Prologis were worth $1,343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. RB Capital Management LLC lifted its position in 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 valued at $485,000 after purchasing an additional 385 shares during the period. Blair William & Co. IL lifted its position in Prologis by 5.3% during the first quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock valued at $3,490,000 after purchasing an additional 1,092 shares during the period. Sequoia Financial Advisors LLC lifted its position in Prologis by 87.7% during the first quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock valued at $546,000 after purchasing an additional 1,580 shares during the period. Baird Financial Group Inc. lifted its position in Prologis by 41.8% during the first quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock valued at $38,952,000 after purchasing an additional 71,112 shares during the period. Finally, Zions Bancorporation N.A. lifted its position in 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 purchasing an additional 581 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of Prologis stock traded up $0.84 during trading on Wednesday, hitting $126.42. 344,400 shares of the stock were exchanged, compared to its average volume of 3,068,819. The stock’s fifty day moving average is $130.66 and its 200 day moving average is $121.83. The stock has a market cap of $116.94 billion, a PE ratio of 38.17, a P/E/G ratio of 2.56 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

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

Prologis Increases Dividend

The firm also recently declared 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 3.04%. This is an increase 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 presently 116.72%.

Analysts Set New Price Targets

PLD has been the subject of a number of analyst reports. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Royal Bank of Canada boosted their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Barclays cut their target price on shares of Prologis from $153.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Mizuho reissued a “neutral” rating and set a $130.00 target price on shares of Prologis in a research note on Tuesday. Finally, StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, December 14th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.67.

Check Out Our Latest Stock Report 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 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.

Further Reading

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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