Wedmont Private Capital Sells 192 Shares of Prologis, Inc. (NYSE:PLD)

Wedmont Private Capital cut its holdings in Prologis, Inc. (NYSE:PLD) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,377 shares of the real estate investment trust’s stock after selling 192 shares during the period. Wedmont Private Capital’s holdings in Prologis were worth $557,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Semmax Financial Advisors Inc. bought a new position in Prologis in the 2nd quarter worth approximately $27,000. Sunbelt Securities Inc. grew its position in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the last quarter. Dunhill Financial LLC increased its holdings in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Hara Capital LLC acquired a new position in shares of Prologis during the third quarter valued at about $48,000. Finally, Coastline Trust Co bought a new stake in shares of Prologis in the third quarter valued at about $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Raymond James restated an “outperform” rating and set a $125.00 price target (down from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Barclays boosted their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $124.00 to $123.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.06.

Prologis Trading Up 2.7 %

PLD stock opened at $108.26 on Wednesday. The business has a fifty day moving average price of $110.65 and a 200 day moving average price of $118.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The stock has a market capitalization of $100.27 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 3.27 and a beta of 1.09.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 earnings per share. Analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.55%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is presently 116.01%.

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.