Prologis, Inc. (NYSE:PLD) Shares Sold by Clark Capital Management Group Inc.

by · The Markets Daily

Clark Capital Management Group Inc. lessened its position in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 4.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 720,462 shares of the real estate investment trust’s stock after selling 33,372 shares during the period. Clark Capital Management Group Inc. owned about 0.08% of Prologis worth $76,153,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB boosted its holdings in shares of Prologis by 11.1% in the 4th quarter. Nordea Investment Management AB now owns 499,787 shares of the real estate investment trust’s stock valued at $53,012,000 after buying an additional 50,113 shares in the last quarter. Diversified Trust Co boosted its stake in Prologis by 564.8% in the fourth quarter. Diversified Trust Co now owns 27,635 shares of the real estate investment trust’s stock valued at $2,921,000 after acquiring an additional 23,478 shares in the last quarter. First County Bank CT grew its holdings in shares of Prologis by 21.0% during the fourth quarter. First County Bank CT now owns 2,681 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 466 shares during the last quarter. Fulton Bank N.A. increased its position in shares of Prologis by 7.7% during the fourth quarter. Fulton Bank N.A. now owns 25,217 shares of the real estate investment trust’s stock worth $2,665,000 after purchasing an additional 1,808 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Prologis by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 48,108 shares of the real estate investment trust’s stock valued at $5,085,000 after purchasing an additional 1,898 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Prologis stock opened at $105.10 on Thursday. The company’s 50-day moving average is $106.61 and its two-hundred day moving average is $111.60. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company 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 (NYSE:PLD – Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Increases Dividend

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

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Truist Financial lowered their price objective on shares of Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday. BMO Capital Markets cut their price target on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Mizuho reduced their target price on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, BTIG Research dropped their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One equities research 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.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Get Our Latest Analysis on Prologis

About Prologis

(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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