Axxcess Wealth Management LLC Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

Axxcess Wealth Management LLC cut its stake in Prologis, Inc. (NYSE:PLD) by 5.6% in the first quarter, Holdings Channel.com reports. The firm owned 5,945 shares of the real estate investment trust’s stock after selling 353 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Prologis were worth $774,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after acquiring an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC grew its position in Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares during the period. Price T Rowe Associates Inc. MD grew its position in Prologis by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after acquiring an additional 365,904 shares during the period. Principal Financial Group Inc. grew its position in Prologis by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock worth $1,642,997,000 after acquiring an additional 123,902 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Prologis by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock worth $1,268,992,000 after acquiring an additional 175,276 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Up 1.9 %

Prologis stock traded up $2.25 during midday trading on Friday, reaching $122.68. The company’s stock had a trading volume of 3,373,903 shares, compared to its average volume of 3,756,973. 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 0.29, a current ratio of 0.10 and a debt-to-equity ratio of 0.52. The company has a market cap of $113.58 billion, a P/E ratio of 35.21, a P/E/G ratio of 2.91 and a beta of 1.06. The business has a 50-day simple moving average of $113.15 and a 200-day simple moving average of $120.09.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business earned $1.83 earnings per share. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. On average, research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio is presently 112.28%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Barclays lowered their price target on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Evercore ISI raised their price target on Prologis from $119.00 to $123.00 and gave the stock an “in-line” rating in a research report on Thursday, July 18th. Scotiabank lowered their price target on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Finally, BMO Capital Markets restated a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Prologis Company Profile

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.