InTrack Investment Management Inc Has $311,000 Stock Position in Prologis, Inc. (NYSE:PLD)

InTrack Investment Management Inc lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 55.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,880 shares of the real estate investment trust’s stock after selling 3,604 shares during the quarter. InTrack Investment Management Inc’s holdings in Prologis were worth $311,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Coronation Fund Managers Ltd. purchased a new position in shares of Prologis during the second quarter valued at $878,000. Edgestream Partners L.P. acquired a new stake in Prologis during the 2nd quarter worth about $241,000. Mercer Global Advisors Inc. ADV grew its stake in Prologis by 7.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 103,621 shares of the real estate investment trust’s stock valued at $11,601,000 after acquiring an additional 7,385 shares in the last quarter. Argent Trust Co grew its stake in Prologis by 4.9% during the 2nd quarter. Argent Trust Co now owns 8,378 shares of the real estate investment trust’s stock valued at $941,000 after acquiring an additional 394 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of Prologis by 6.1% in the 2nd quarter. Blair William & Co. IL now owns 30,965 shares of the real estate investment trust’s stock valued at $3,478,000 after purchasing an additional 1,779 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 1.3 %

Prologis stock opened at $109.51 on Friday. The business’s 50-day simple moving average is $110.47 and its 200-day simple moving average is $118.31. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The firm has a market capitalization of $101.43 billion, a PE ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. Equities research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PLD shares. Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Truist Financial dropped their target price on Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.67.

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.