Coastline Trust Co Sells 126 Shares of Prologis, Inc. (NYSE:PLD)

Coastline Trust Co decreased its position in Prologis, Inc. (NYSE:PLD) by 30.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 286 shares of the real estate investment trust’s stock after selling 126 shares during the quarter. Coastline Trust Co’s holdings in Prologis were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Pine Valley Investments Ltd Liability Co lifted its position in Prologis by 14.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 18,163 shares of the real estate investment trust’s stock valued at $2,294,000 after purchasing an additional 2,245 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Prologis during the 3rd quarter valued at about $989,000. Wilmington Savings Fund Society FSB bought a new position in shares of Prologis in the 3rd quarter valued at about $1,348,000. Destination Wealth Management grew its position in Prologis by 121.5% in the third quarter. Destination Wealth Management now owns 4,504 shares of the real estate investment trust’s stock worth $569,000 after acquiring an additional 2,471 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in Prologis by 12.7% during the third quarter. Tidal Investments LLC now owns 200,250 shares of the real estate investment trust’s stock worth $25,288,000 after acquiring an additional 22,516 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

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

Prologis Stock Up 1.6 %

Prologis stock opened at $101.89 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market cap of $94.45 billion, a P/E ratio of 25.47, a P/E/G ratio of 2.70 and a beta of 1.20. The business has a fifty day moving average of $111.44 and a two-hundred day moving average of $113.19. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. On average, analysts forecast 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 paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.96%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is 101.00%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several analyst reports. Scotiabank reaffirmed a “sector underperform” rating and issued a $97.00 price objective (down from $133.00) on shares of Prologis in a research note on Monday, April 7th. Wolfe Research dropped their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Truist Financial boosted their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, BMO Capital Markets reduced their price objective on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus 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.