Greenleaf Trust Reduces Position in Prologis, Inc. (NYSE:PLD)

Greenleaf Trust lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 16.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,666 shares of the real estate investment trust’s stock after selling 3,722 shares during the quarter. Greenleaf Trust’s holdings in Prologis were worth $2,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. HTLF Bank purchased a new position in shares of Prologis during the 4th quarter valued at $2,776,000. Colton Groome Financial Advisors LLC lifted its stake in shares of Prologis by 23.2% during the 4th quarter. Colton Groome Financial Advisors LLC now owns 10,910 shares of the real estate investment trust’s stock valued at $1,454,000 after buying an additional 2,055 shares in the last quarter. Fidelis Capital Partners LLC lifted its stake in shares of Prologis by 38.3% during the 4th quarter. Fidelis Capital Partners LLC now owns 8,290 shares of the real estate investment trust’s stock valued at $1,105,000 after buying an additional 2,297 shares in the last quarter. Western Wealth Management LLC lifted its stake in shares of Prologis by 5.9% during the 4th quarter. Western Wealth Management LLC now owns 14,478 shares of the real estate investment trust’s stock valued at $1,930,000 after buying an additional 803 shares in the last quarter. Finally, Xponance Inc. lifted its stake in shares of Prologis by 6.4% during the 4th quarter. Xponance Inc. now owns 136,289 shares of the real estate investment trust’s stock valued at $18,167,000 after buying an additional 8,138 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of several research analyst reports. Evercore ISI decreased their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday. Barclays decreased their price target on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday. 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. Robert W. Baird boosted their price target on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 23rd. Finally, TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.86.

Prologis Stock Performance

Shares of NYSE:PLD opened at $103.49 on Friday. The company has a market capitalization of $95.73 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 2.10 and a beta of 1.00. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The firm’s 50-day moving average is $127.87 and its 200 day moving average is $122.02. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51.

Prologis (NYSE:PLD) last issued 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 net margin of 38.73% and a return on equity of 5.49%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 earnings per share. Research analysts predict that Prologis, Inc. will post 5.47 EPS for the current year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.71%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is presently 112.28%.

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.