Opus Capital Group LLC Trims Position in Prologis, Inc. (NYSE:PLD)

Opus Capital Group LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 13.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,114 shares of the real estate investment trust’s stock after selling 480 shares during the period. Opus Capital Group LLC’s holdings in Prologis were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Thompson Investment Management Inc. acquired a new stake in shares of Prologis during the 4th quarter worth about $28,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Prologis during the 3rd quarter worth about $29,000. FinTrust Capital Advisors LLC increased its position in shares of Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 232 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of Prologis during the 4th quarter worth about $37,000. Finally, Fairfield Bush & CO. acquired a new position in Prologis in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock traded down $8.25 during trading hours on Wednesday, hitting $106.49. 10,816,853 shares of the company were exchanged, compared to its average volume of 3,352,986. The business has a 50-day moving average of $129.44 and a 200-day moving average of $122.30. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The stock has a market capitalization of $98.51 billion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 2.31 and a beta of 1.00. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a return on equity of 5.29% and a net margin of 38.13%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the company earned $1.24 EPS. The company’s revenue was up 7.8% on a year-over-year basis. As a group, analysts expect that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is currently 116.72%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLD. Robert W. Baird lifted their target price on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. Morgan Stanley lifted their target price on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Barclays dropped their target price on Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday. Evercore ISI reaffirmed an “in-line” rating and issued a $136.00 target price on shares of Prologis in a research report on Monday, March 18th. Finally, Mizuho reissued a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.27.

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.