MML Investors Services LLC Sells 173 Shares of Prologis, Inc. (NYSE:PLD)

MML Investors Services LLC decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,736 shares of the real estate investment trust’s stock after selling 173 shares during the quarter. MML Investors Services LLC’s holdings in Prologis were worth $30,731,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Prologis during the fourth quarter worth approximately $26,000. Crowley Wealth Management Inc. bought a new position in Prologis in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in Prologis during the 4th quarter worth $30,000. Whipplewood Advisors LLC bought a new stake in Prologis during the 4th quarter valued at $34,000. Finally, Promus Capital LLC purchased a new stake in shares of Prologis in the 4th quarter worth $34,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD stock opened at $101.89 on Monday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year 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 firm 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. The business has a 50 day simple moving average of $111.44 and a 200-day simple moving average of $113.13.

Prologis (NYSE:PLD) last posted its 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 for the quarter, compared to analyst estimates of $1.99 billion. Equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s payout ratio is currently 101.00%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. CJS Securities cut their price objective on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. BMO Capital Markets lowered their target price on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Robert W. Baird lifted their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, BTIG Research reduced their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.32.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.57% of the company’s stock.

Prologis Company 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.