Prologis, Inc. (NYSE:PLD) Position Decreased by Tranquility Partners LLC

Tranquility Partners LLC decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 9.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,072 shares of the real estate investment trust’s stock after selling 210 shares during the period. Tranquility Partners LLC’s holdings in Prologis were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PLD. Norges Bank bought a new position in shares of Prologis during the 4th quarter valued at about $980,759,000. Morgan Stanley boosted its holdings in shares of Prologis by 48.0% in the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after buying an additional 4,729,040 shares during the period. Moneta Group Investment Advisors LLC acquired a new position in shares of Prologis in the fourth quarter worth about $232,205,000. Legal & General Group Plc boosted its holdings in shares of Prologis by 22.4% in the fourth quarter. Legal & General Group Plc now owns 11,130,145 shares of the real estate investment trust’s stock worth $1,254,702,000 after buying an additional 2,038,187 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Prologis in the third quarter worth about $185,164,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

PLD traded down $1.51 during trading on Thursday, reaching $104.98. 967,462 shares of the company’s stock were exchanged, compared to its average volume of 3,321,202. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average price of $128.99 and a 200 day moving average price of $122.19. The company has a market capitalization of $97.11 billion, a P/E ratio of 32.37, a PEG ratio of 2.29 and a beta of 1.00.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a return on equity of 5.29% and a net margin of 38.13%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts predict that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.66%. Prologis’s payout ratio is 116.72%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent analyst reports. Barclays decreased their target price on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday. Mizuho restated a “neutral” rating and set a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. Evercore ISI reissued an “in-line” rating and issued a $136.00 price target on shares of Prologis in a research report on Monday, March 18th. Robert W. Baird lifted their price target on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. Finally, Morgan Stanley lifted their price target on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $141.27.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.