Calamos Advisors LLC Sells 4,190 Shares of Prologis, Inc. (NYSE:PLD)

Calamos Advisors LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.9% during the fourth quarter, HoldingsChannel reports. The fund owned 215,408 shares of the real estate investment trust’s stock after selling 4,190 shares during the quarter. Calamos Advisors LLC’s holdings in Prologis were worth $28,714,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its stake in shares of Prologis by 6.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after purchasing an additional 1,034,211 shares during the last quarter. FMR LLC boosted its stake in shares of Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after purchasing an additional 197,693 shares during the last quarter. Morgan Stanley boosted its stake in shares of Prologis by 48.0% in the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after purchasing an additional 4,729,040 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Prologis by 0.7% in the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after purchasing an additional 92,036 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Prologis by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after purchasing an additional 268,667 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays reduced their price objective on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday. Mizuho reaffirmed a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Raymond James upped their price objective on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Finally, Robert W. Baird increased their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Prologis Stock Down 1.2 %

PLD traded down $1.22 during trading on Friday, hitting $103.47. 1,232,032 shares of the company’s stock were exchanged, compared to its average volume of 3,364,128. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $128.45 and its two-hundred day moving average is $122.07. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The stock has a market cap of $95.71 billion, a P/E ratio of 30.61, a PEG ratio of 2.14 and a beta of 1.00.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Prologis had a return on equity of 5.49% and a net margin of 38.73%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 EPS. As a group, equities analysts expect that Prologis, Inc. will post 5.47 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.71%. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is currently 112.28%.

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.