Pitcairn Co. Sells 939 Shares of Prologis, Inc. (NYSE:PLD)

Pitcairn Co. trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 14.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,343 shares of the real estate investment trust’s stock after selling 939 shares during the quarter. Pitcairn Co.’s holdings in Prologis were worth $675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PLD. B. Riley Wealth Advisors Inc. lifted its stake in Prologis by 48.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 20,792 shares of the real estate investment trust’s stock valued at $2,708,000 after buying an additional 6,780 shares in the last quarter. Tidal Investments LLC boosted its stake in Prologis by 19.8% in the 1st quarter. Tidal Investments LLC now owns 141,415 shares of the real estate investment trust’s stock worth $18,415,000 after purchasing an additional 23,346 shares during the period. Beacon Capital Management LLC increased its holdings in Prologis by 379.1% during the 1st quarter. Beacon Capital Management LLC now owns 872 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 690 shares in the last quarter. Zimmer Partners LP acquired a new stake in shares of Prologis in the 1st quarter valued at about $11,720,000. Finally, Plato Investment Management Ltd lifted its holdings in shares of Prologis by 946.0% in the first quarter. Plato Investment Management Ltd now owns 29,121 shares of the real estate investment trust’s stock valued at $3,792,000 after purchasing an additional 26,337 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Bank of America reiterated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Wells Fargo & Company increased their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Truist Financial lifted their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Scotiabank reduced their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Stock Performance

NYSE:PLD opened at $118.05 on Tuesday. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market cap of $109.33 billion, a P/E ratio of 35.66, a PEG ratio of 3.05 and a beta of 1.08. The stock has a 50 day simple moving average of $119.53 and a 200 day simple moving average of $118.55.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the firm earned $1.30 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.25%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.