Cresset Asset Management LLC Sells 34,783 Shares of Prologis, Inc. (NYSE:PLD)

Cresset Asset Management LLC reduced its holdings in Prologis, Inc. (NYSE:PLD) by 47.7% in the fourth quarter, HoldingsChannel reports. The firm owned 38,174 shares of the real estate investment trust’s stock after selling 34,783 shares during the period. Cresset Asset Management LLC’s holdings in Prologis were worth $4,035,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PLD. Empirical Asset Management LLC boosted its stake in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after acquiring an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. boosted its position in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Aviva PLC boosted its position in shares of Prologis by 36.6% during the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock worth $73,481,000 after purchasing an additional 186,187 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after buying an additional 179,880 shares during the period. Finally, Allstate Corp increased its position in Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock valued at $7,877,000 after buying an additional 39,321 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLD has been the subject of a number of research reports. Royal Bank of Canada reduced their price objective on Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 29th. Morgan Stanley reduced their price target on shares of Prologis to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. CJS Securities lowered their price objective on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. BTIG Research reduced their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $121.68.

Prologis Price Performance

Shares of NYSE:PLD opened at $105.46 on Friday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company’s 50-day moving average is $106.25 and its 200 day moving average is $111.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a market capitalization of $97.85 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.99 billion. On average, equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.83%. Prologis’s payout ratio is 101.00%.

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.