Bourgeon Capital Management LLC Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

Bourgeon Capital Management LLC trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,279 shares of the real estate investment trust’s stock after selling 1,186 shares during the period. Bourgeon Capital Management LLC’s holdings in Prologis were worth $6,068,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after purchasing an additional 15,078 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Prologis by 1.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 26,403 shares of the real estate investment trust’s stock worth $2,791,000 after buying an additional 359 shares during the last quarter. DAVENPORT & Co LLC boosted its position in shares of Prologis by 3.7% in the 4th quarter. DAVENPORT & Co LLC now owns 28,453 shares of the real estate investment trust’s stock worth $3,007,000 after buying an additional 1,027 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in Prologis by 199.9% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 14,212 shares of the real estate investment trust’s stock valued at $1,502,000 after acquiring an additional 9,473 shares during the last quarter. Finally, JB Capital LLC grew its stake in Prologis by 6.7% in the 4th quarter. JB Capital LLC now owns 83,297 shares of the real estate investment trust’s stock valued at $8,805,000 after acquiring an additional 5,206 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLD. Wells Fargo & Company cut their target price on shares of Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Scotiabank lifted their price objective on Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research report on Monday, May 12th. CJS Securities reduced their target price on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Evercore ISI dropped their price target on Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research report on Thursday, April 17th. Finally, Wall Street Zen raised Prologis from a “sell” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.42.

Prologis Price Performance

Prologis stock opened at $108.67 on Tuesday. 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 quick ratio of 0.43 and a current ratio of 0.75. The firm has a 50 day moving average price of $103.89 and a 200 day moving average price of $110.53. The company has a market cap of $100.84 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last announced its quarterly earnings results 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 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. Sell-side analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio (DPR) is presently 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.