Prologis, Inc. (NYSE:PLD) Shares Sold by CNB Bank

CNB Bank cut its position in shares of Prologis, Inc. (NYSE:PLD) by 29.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,130 shares of the real estate investment trust’s stock after selling 472 shares during the quarter. CNB Bank’s holdings in Prologis were worth $119,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Coronation Fund Managers Ltd. acquired a new position in Prologis during the second quarter worth approximately $878,000. Edgestream Partners L.P. purchased a new stake in shares of Prologis during the 2nd quarter valued at $241,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of Prologis by 7.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 103,621 shares of the real estate investment trust’s stock worth $11,601,000 after buying an additional 7,385 shares during the last quarter. Argent Trust Co raised its position in shares of Prologis by 4.9% in the 2nd quarter. Argent Trust Co now owns 8,378 shares of the real estate investment trust’s stock worth $941,000 after buying an additional 394 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Prologis by 2.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 62,323 shares of the real estate investment trust’s stock valued at $6,786,000 after acquiring an additional 1,564 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of PLD opened at $111.49 on Friday. The stock’s 50-day moving average price is $110.53 and its two-hundred day moving average price is $118.36. 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 $103.26 billion, a P/E ratio of 33.71, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

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

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.44%. Prologis’s payout ratio is 116.01%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Truist Financial cut their price objective on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $129.06.

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.