Graypoint LLC Reduces Holdings in Prologis, Inc. (NYSE:PLD)

Graypoint LLC cut its holdings in Prologis, Inc. (NYSE:PLD) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,124 shares of the real estate investment trust’s stock after selling 590 shares during the quarter. Graypoint LLC’s holdings in Prologis were worth $436,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PLD. Semmax Financial Advisors Inc. acquired a new stake in Prologis during the 2nd quarter valued at $27,000. Dunhill Financial LLC lifted its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the last quarter. Hara Capital LLC purchased a new stake in Prologis during the 3rd quarter worth about $48,000. Finally, Coastline Trust Co acquired a new position in Prologis in the 3rd quarter valued at about $52,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Prologis stock opened at $103.65 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $96.00 billion, a P/E ratio of 31.31, a PEG ratio of 3.27 and a beta of 1.09. The firm has a fifty day moving average of $110.94 and a 200-day moving average of $118.45. Prologis, Inc. has a 52-week low of $100.82 and a 52-week 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Truist Financial lowered their price objective on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Finally, Scotiabank reduced their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.06.

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.