Prologis, Inc. (NYSE:PLD) Stake Lessened by Quent Capital LLC

Quent Capital LLC lessened its stake in Prologis, Inc. (NYSE:PLD) by 37.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,425 shares of the real estate investment trust’s stock after selling 852 shares during the period. Quent Capital LLC’s holdings in Prologis were worth $160,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Valeo Financial Advisors LLC increased its stake in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares during the last quarter. Norges Bank bought a new stake in Prologis during the fourth quarter valued at $1,074,648,000. Capital World Investors increased its stake in Prologis by 1,252.9% during the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after purchasing an additional 6,765,582 shares during the last quarter. Swedbank AB bought a new stake in Prologis during the first quarter valued at $596,614,000. Finally, Alphinity Investment Management Pty Ltd bought a new stake in Prologis during the first quarter valued at $465,659,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD traded up $2.04 during trading hours on Tuesday, hitting $120.98. 4,016,151 shares of the company’s stock traded hands, compared to its average volume of 3,766,779. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36. The company’s fifty day simple moving average is $115.37 and its two-hundred day simple moving average is $119.61. The company has a market cap of $112.01 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the business posted $1.83 EPS. The business’s revenue for the quarter was down 18.1% on a year-over-year basis. As a group, equities analysts anticipate that Prologis, Inc. will post 5.43 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were given a dividend of $0.96 per share. The ex-dividend date was Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.17%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PLD shares. Scotiabank lowered their price target on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Evercore ISI upped their price target on shares of Prologis from $119.00 to $123.00 and gave the stock an “in-line” rating in a research report on Thursday, July 18th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $124.00 to $127.00 in a research report on Monday. Truist Financial upped their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Robert W. Baird lowered their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued 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 an average price target of $132.27.

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.