abrdn plc Sells 415,770 Shares of Prologis, Inc. (NYSE:PLD)

abrdn plc lessened its position in shares of Prologis, Inc. (NYSE:PLD) by 21.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,534,243 shares of the real estate investment trust’s stock after selling 415,770 shares during the period. abrdn plc owned approximately 0.17% of Prologis worth $204,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. RB Capital Management LLC increased its holdings in Prologis by 14.7% during the 1st quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock worth $485,000 after acquiring an additional 385 shares during the period. Blair William & Co. IL grew its stake in Prologis by 5.3% in the 1st quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock worth $3,490,000 after buying an additional 1,092 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Prologis by 87.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock worth $546,000 after buying an additional 1,580 shares in the last quarter. Baird Financial Group Inc. grew its stake in Prologis by 41.8% in the 1st quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock worth $38,952,000 after buying an additional 71,112 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its stake in Prologis by 38.8% in the 1st quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock worth $336,000 after buying an additional 581 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 1.1 %

NYSE PLD traded down $1.20 during trading on Friday, hitting $103.49. The company had a trading volume of 6,932,203 shares, compared to its average volume of 3,950,327. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a market cap of $95.73 billion, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company’s fifty day moving average is $127.87 and its 200-day moving average is $122.02.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a return on equity of 5.49% and a net margin of 38.73%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company posted $1.24 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Prologis, Inc. will post 5.47 earnings per share for the current year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.71%. Prologis’s dividend payout ratio is 112.28%.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research reports. Royal Bank of Canada boosted their price target on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Morgan Stanley boosted their price target on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. UBS Group cut their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday. Mizuho reaffirmed a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Finally, Barclays cut their price objective on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

Prologis Profile

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.