Ninepoint Partners LP Sells 293 Shares of Prologis, Inc. (NYSE:PLD)

Ninepoint Partners LP lowered its stake in Prologis, Inc. (NYSE:PLD) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,905 shares of the real estate investment trust’s stock after selling 293 shares during the period. Ninepoint Partners LP’s holdings in Prologis were worth $254,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PLD. Thompson Investment Management Inc. bought a new position in Prologis in the 4th quarter worth about $28,000. FinTrust Capital Advisors LLC boosted its stake in Prologis by 966.7% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 232 shares in the last quarter. Salem Investment Counselors Inc. bought a new position in Prologis in the 4th quarter worth about $37,000. Fairfield Bush & CO. bought a new position in Prologis in the 2nd quarter worth about $35,000. Finally, FNY Investment Advisers LLC bought a new position in Prologis in the 4th quarter worth about $39,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE:PLD traded down $1.33 during mid-day trading on Friday, reaching $103.36. 3,468,502 shares of the company traded hands, compared to its average volume of 3,395,150. The company’s 50 day moving average price is $128.45 and its 200-day moving average price is $122.07. The firm has a market cap of $95.61 billion, a PE ratio of 30.07, a PEG ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a net margin of 38.73% and a return on equity of 5.49%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.24 earnings per share. On average, equities analysts expect that Prologis, Inc. will post 5.47 EPS for the current fiscal 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 paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.72%. 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 112.28%.

Analyst Ratings Changes

A number of brokerages have weighed in on PLD. Evercore ISI decreased their target price on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research report on Thursday. Robert W. Baird boosted their target price on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. UBS Group decreased their target price on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Barclays decreased their target price on Prologis from $141.00 to $135.00 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $140.00.

About Prologis

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.