Peddock Capital Advisors LLC Cuts Stake in Prologis, Inc. (NYSE:PLD)

Peddock Capital Advisors LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,007 shares of the real estate investment trust’s stock after selling 301 shares during the period. Peddock Capital Advisors LLC’s holdings in Prologis were worth $318,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PLD shares. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Raymond James reissued an “outperform” rating and issued a $125.00 price objective (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Truist Financial cut their price target on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Finally, Scotiabank decreased their price objective on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $129.06.

Prologis Price Performance

Shares of PLD stock traded up $1.78 on Monday, reaching $105.37. 5,774,664 shares of the company were exchanged, compared to its average volume of 4,385,279. The company has a market cap of $97.59 billion, a price-to-earnings ratio of 31.83, a P/E/G ratio of 3.27 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The business has a 50-day moving average price of $110.94 and a 200 day moving average price of $118.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share 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 firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the business earned $1.30 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 116.01%.

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.