Peddock Capital Advisors LLC Trims Position in Prologis, Inc. (NYSE:PLD)

Peddock Capital Advisors LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 9.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,007 shares of the real estate investment trust’s stock after selling 301 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Prologis were worth $318,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sunflower Bank N.A. bought a new position in shares of Prologis in the 3rd quarter valued at about $249,000. Coronation Fund Managers Ltd. bought a new stake in shares of Prologis in the 2nd quarter valued at approximately $878,000. Cardano Risk Management B.V. boosted its holdings in shares of Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after purchasing an additional 29,400 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Prologis during the 3rd quarter valued at approximately $1,051,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays lifted their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Mizuho reduced their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.06.

Prologis Stock Up 1.7 %

NYSE PLD traded up $1.78 during trading on Monday, reaching $105.37. 5,774,664 shares of the company’s stock traded hands, compared to its average volume of 4,385,279. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $97.59 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The company’s 50 day simple moving average is $110.94 and its two-hundred day simple moving average is $118.50.

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

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is currently 116.01%.

Prologis Company 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.