Tower Research Capital LLC TRC Sells 16,957 Shares of Prologis, Inc. (NYSE:PLD)

Tower Research Capital LLC TRC decreased its holdings in Prologis, Inc. (NYSE:PLD) by 27.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,491 shares of the real estate investment trust’s stock after selling 16,957 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Prologis were worth $4,808,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis in the fourth quarter valued at about $26,000. Crowley Wealth Management Inc. bought a new position in shares of Prologis in the fourth quarter worth about $27,000. Centricity Wealth Management LLC acquired a new position in shares of Prologis during the fourth quarter worth approximately $30,000. Whipplewood Advisors LLC bought a new stake in shares of Prologis during the fourth quarter valued at approximately $34,000. Finally, Promus Capital LLC acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 1.6 %

NYSE:PLD opened at $101.89 on Monday. The business’s 50-day simple moving average is $111.44 and its 200-day simple moving average is $113.13. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The stock has a market capitalization of $94.45 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.96%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

PLD has been the subject of several research reports. UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Scotiabank restated a “sector underperform” rating and set a $97.00 target price (down from $133.00) on shares of Prologis in a research report on Monday, April 7th. CJS Securities lowered their price target on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Finally, Evercore ISI cut their price objective on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.32.

About Prologis

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.