West Paces Advisors Inc. Has $848,000 Stock Holdings in Prologis, Inc. (NYSE:PLD)

West Paces Advisors Inc. lessened its holdings in Prologis, Inc. (NYSE:PLD) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,359 shares of the real estate investment trust’s stock after selling 448 shares during the period. West Paces Advisors Inc.’s holdings in Prologis were worth $848,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Massachusetts Financial Services Co. MA grew its stake in shares of Prologis by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after purchasing an additional 1,034,211 shares during the last quarter. FMR LLC raised its position in shares of Prologis by 1.2% during the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after acquiring an additional 197,693 shares during the last quarter. Morgan Stanley boosted its holdings in Prologis by 48.0% in the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after acquiring an additional 4,729,040 shares during the last quarter. Northern Trust Corp raised its holdings in Prologis by 0.7% during the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after purchasing an additional 92,036 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Prologis by 2.3% during the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after purchasing an additional 268,667 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 0.9 %

Shares of NYSE:PLD traded down $1.05 during mid-day trading on Tuesday, reaching $114.74. 5,569,304 shares of the stock were exchanged, compared to its average volume of 3,249,402. The stock’s 50 day simple moving average is $129.76 and its 200-day simple moving average is $122.28. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a market cap of $106.14 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.38 and a beta of 1.00. 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 issued its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). The business 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%. Prologis’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. As a group, equities research analysts predict 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 given a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.35%. Prologis’s payout ratio is 116.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PLD shares. Morgan Stanley boosted their price target on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Evercore ISI restated an “in-line” rating and issued a $136.00 price target on shares of Prologis in a research report on Monday, March 18th. JPMorgan Chase & Co. upgraded Prologis from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $123.00 to $148.00 in a report on Monday, December 18th. 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. Finally, Royal Bank of Canada increased their price target on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $141.67.

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.