Fiduciary Trust Co Cuts Stock Position in Prologis, Inc. (NYSE:PLD)

Fiduciary Trust Co decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,977 shares of the real estate investment trust’s stock after selling 1,109 shares during the quarter. Fiduciary Trust Co’s holdings in Prologis were worth $4,543,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on PLD shares. Wolfe Research lowered Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. CJS Securities decreased their target price on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Mizuho dropped their price target on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Morgan Stanley decreased their price objective on shares of Prologis to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Finally, Truist Financial dropped their target price on shares of Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Prologis Stock Up 1.4 %

Shares of PLD opened at $106.97 on Friday. The business’s 50 day moving average is $105.95 and its 200 day moving average is $111.43. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a market capitalization of $99.26 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.78%. Prologis’s dividend payout ratio (DPR) is 101.00%.

Prologis 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.