Prologis, Inc. (NYSE:PLD) Holdings Cut by SVB Wealth LLC

SVB Wealth LLC decreased its stake in Prologis, Inc. (NYSE:PLD) by 8.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,716 shares of the real estate investment trust’s stock after selling 858 shares during the quarter. SVB Wealth LLC’s holdings in Prologis were worth $1,295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. Norges Bank purchased a new stake in Prologis in the 4th quarter worth approximately $980,759,000. Morgan Stanley lifted its position in Prologis by 48.0% in the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after buying an additional 4,729,040 shares in the last quarter. Moneta Group Investment Advisors LLC purchased a new stake in Prologis in the 4th quarter worth approximately $232,205,000. Legal & General Group Plc lifted its position in Prologis by 22.4% in the 4th quarter. Legal & General Group Plc now owns 11,130,145 shares of the real estate investment trust’s stock worth $1,254,702,000 after buying an additional 2,038,187 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Prologis in the 3rd quarter worth approximately $185,164,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

NYSE PLD opened at $104.67 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $96.82 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 2.29 and a beta of 1.00. The company’s fifty day moving average is $128.45 and its two-hundred day moving average is $122.07. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.24 earnings per share. Equities research analysts forecast that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is 116.72%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PLD shares. Evercore ISI cut their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday. UBS Group cut their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley raised their price target on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, Raymond James raised their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.