Fullcircle Wealth LLC Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

by · The Cerbat Gem

Fullcircle Wealth LLC trimmed its position in Prologis, Inc. (NYSE:PLD – Free Report) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,962 shares of the real estate investment trust’s stock after selling 134 shares during the quarter. Fullcircle Wealth LLC’s holdings in Prologis were worth $1,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cohen & Steers Inc. grew its position in shares of Prologis by 3.2% in the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock worth $2,994,557,000 after buying an additional 882,529 shares during the period. Geode Capital Management LLC lifted its position in Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock valued at $2,252,853,000 after acquiring an additional 610,251 shares in the last quarter. FMR LLC boosted its stake in Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Prologis by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock worth $1,754,282,000 after purchasing an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.6 %

NYSE PLD opened at $105.10 on Thursday. The stock has a market cap of $97.53 billion, a PE ratio of 26.28, a PEG ratio of 2.70 and a beta of 1.25. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The company’s 50-day moving average price is $106.61 and its 200-day moving average price is $111.60.

Prologis (NYSE:PLD – Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. Equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analyst Ratings Changes

Several equities research analysts recently commented on PLD shares. Scotiabank reissued a “sector underperform” rating and issued a $97.00 target price (down previously from $133.00) on shares of Prologis in a research report on Monday, April 7th. BMO Capital Markets lowered their price objective on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Evercore ISI dropped their target price on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday, April 17th. Mizuho dropped their price target on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, UBS Group boosted their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.68.

Get Our Latest Stock Analysis on PLD

Prologis Profile

(Free Report)

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.

See Also

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