International Assets Investment Management LLC Sells 431,638 Shares of Prologis, Inc. (NYSE:PLD)

International Assets Investment Management LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 99.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,270 shares of the real estate investment trust’s stock after selling 431,638 shares during the quarter. International Assets Investment Management LLC’s holdings in Prologis were worth $341,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after acquiring an additional 767,609 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Prologis by 0.9% in the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after purchasing an additional 194,472 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Prologis by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after purchasing an additional 317,815 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after buying an additional 441,841 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. 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. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Truist Financial reduced their target price on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Evercore ISI boosted their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, Scotiabank dropped their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.06.

Prologis Stock Down 1.8 %

NYSE:PLD opened at $103.65 on Friday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The firm has a market capitalization of $96.00 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average price is $110.94 and its two-hundred day moving average price is $118.45.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm 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 revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 EPS. Equities research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.70%. Prologis’s dividend payout ratio is currently 116.01%.

Prologis 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.