Signet Financial Management LLC Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Signet Financial Management LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,631 shares of the real estate investment trust’s stock after selling 99 shares during the period. Signet Financial Management LLC’s holdings in Prologis were worth $351,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PLD. RB Capital Management LLC increased its holdings in Prologis by 14.7% in 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 buying an additional 385 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Prologis by 5.3% in the 1st 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 last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of 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 valued at $546,000 after purchasing an additional 1,580 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Prologis by 41.8% in 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 purchasing an additional 71,112 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its holdings in shares of Prologis by 38.8% in the 1st 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 last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD opened at $114.73 on Wednesday. The company has a 50-day moving average of $129.44 and a 200-day moving average of $122.30. The company has a market capitalization of $106.13 billion, a P/E ratio of 34.87, a PEG ratio of 2.31 and a beta of 1.00. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. 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 (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 the consensus estimate of $1.26 by ($0.58). Prologis had a return on equity of 5.29% and a net margin of 38.13%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm posted $1.24 EPS. Prologis’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts expect that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.35%. Prologis’s payout ratio is 116.72%.

Analyst Ratings Changes

A number of equities analysts have weighed in on PLD shares. Robert W. Baird lifted their price target on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a report on Tuesday, January 23rd. Mizuho reiterated a “neutral” rating and issued a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. Evercore ISI restated an “in-line” rating and set a $136.00 target price on shares of Prologis in a report on Monday, March 18th. Barclays reduced their target price on shares of Prologis from $153.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Finally, Raymond James lifted their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.67.

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.