Evergreen Capital Management LLC Sells 4,503 Shares of Prologis, Inc. (NYSE:PLD)

Evergreen Capital Management LLC lessened its holdings in Prologis, Inc. (NYSE:PLD) by 21.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,035 shares of the real estate investment trust’s stock after selling 4,503 shares during the quarter. Evergreen Capital Management LLC’s holdings in Prologis were worth $1,695,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis during the 4th quarter valued at $26,000. Crowley Wealth Management Inc. bought a new stake in Prologis in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new position in Prologis in the fourth quarter valued at about $30,000. Whipplewood Advisors LLC bought a new position in Prologis during the fourth quarter worth about $34,000. Finally, Promus Capital LLC acquired a new position in shares of Prologis during the 4th quarter worth about $34,000. 93.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of analyst reports. Scotiabank reiterated a “sector underperform” rating and issued a $97.00 price target (down from $133.00) on shares of Prologis in a research report on Monday, April 7th. Royal Bank of Canada lifted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Morgan Stanley reduced their target price on Prologis to $120.00 and set an “outperform” rating on the stock in a report on Monday. Finally, UBS Group increased their price target on 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, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.32.

Prologis Price Performance

Shares of NYSE PLD opened at $101.89 on Friday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The stock has a market capitalization of $94.45 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 2.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The business has a 50-day moving average of $111.84 and a 200-day moving average of $113.42.

Prologis (NYSE:PLD) last released its quarterly earnings data 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. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, sell-side analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.96%. The ex-dividend date was Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is 101.00%.

About Prologis

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.