Prologis, Inc. (NYSE:PLD) Position Lessened by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,021,300 shares of the real estate investment trust’s stock after selling 297,588 shares during the quarter. Prologis comprises about 5.0% of Daiwa Securities Group Inc.’s holdings, making the stock its largest position. Daiwa Securities Group Inc. owned 0.65% of Prologis worth $802,639,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PLD. RB Capital Management LLC grew its position in Prologis by 14.7% in the first quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock worth $485,000 after acquiring an additional 385 shares in the last quarter. Blair William & Co. IL lifted its stake in Prologis by 5.3% during the first quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock worth $3,490,000 after purchasing an additional 1,092 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Prologis by 87.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock valued at $546,000 after purchasing an additional 1,580 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Prologis by 41.8% during the 1st quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock valued at $38,952,000 after purchasing an additional 71,112 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in shares of Prologis by 38.8% during the 1st quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock valued at $336,000 after buying an additional 581 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 7.2 %

NYSE PLD traded down $8.25 on Wednesday, hitting $106.49. 10,489,255 shares of the stock were exchanged, compared to its average volume of 3,355,902. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a market capitalization of $98.51 billion, a P/E ratio of 32.37, a P/E/G ratio of 2.31 and a beta of 1.00. The stock has a fifty day moving average price of $129.44 and a two-hundred day moving average price of $122.30.

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

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.61%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is currently 116.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLD. Mizuho reaffirmed a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Barclays dropped their target price on Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday. Evercore ISI reaffirmed an “in-line” rating and issued a $136.00 price target on shares of Prologis in a research note on Monday, March 18th. Raymond James increased their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Finally, Morgan Stanley raised their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.