Prologis, Inc. (NYSE:PLD) Shares Sold by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC reduced its stake in Prologis, Inc. (NYSE:PLD) by 60.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,135 shares of the real estate investment trust’s stock after selling 7,706 shares during the period. Brown Miller Wealth Management LLC’s holdings in Prologis were worth $685,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Columbia Trust Co 01012016 raised its holdings in shares of Prologis by 16.0% during the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 723 shares during the period. Cyndeo Wealth Partners LLC grew its holdings in Prologis by 39.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares in the last quarter. DNB Asset Management AS increased its stake in Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after buying an additional 42,073 shares during the period. Grassi Investment Management lifted its holdings in Prologis by 31.8% in the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after buying an additional 60,900 shares in the last quarter. Finally, Selway Asset Management acquired a new position in Prologis in the 3rd quarter worth $177,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLD has been the topic of a number of analyst reports. Barclays dropped their target price on Prologis from $153.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday. Raymond James raised their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. Evercore ISI reissued an “in-line” rating and set a $136.00 price objective on shares of Prologis in a report on Monday, March 18th. Morgan Stanley boosted their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, Robert W. Baird boosted their price objective on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 23rd. Four equities research 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.67.

Prologis Trading Up 1.0 %

Shares of PLD stock traded up $1.32 during trading hours on Thursday, reaching $130.18. 3,676,079 shares of the stock traded hands, compared to its average volume of 3,136,057. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $120.42 billion, a PE ratio of 39.57, a PEG ratio of 2.50 and a beta of 1.00. The business has a fifty day moving average price of $130.56 and a 200 day moving average price of $121.69.

Prologis (NYSE:PLD) last posted 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 company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 earnings per share. On average, equities research analysts forecast that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 18th will be issued a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 2.95%. The ex-dividend date is Friday, March 15th. Prologis’s dividend payout ratio (DPR) is 116.72%.

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.