Carnegie Investment Counsel lowered its position in Prologis, Inc. (NYSE:PLD - Free Report) by 61.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,166 shares of the real estate investment trust's stock after selling 11,581 shares during the period. Carnegie Investment Counsel's holdings in Prologis were worth $757,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Coronation Fund Managers Ltd. purchased a new position in shares of Prologis during the 2nd quarter valued at about $878,000. Edgestream Partners L.P. acquired a new position in Prologis in the second quarter valued at approximately $241,000. Blair William & Co. IL boosted its position in 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 worth $3,478,000 after purchasing an additional 1,779 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Prologis by 2.1% during the 2nd quarter. Brighton Jones LLC now owns 14,635 shares of the real estate investment trust's stock worth $1,644,000 after purchasing an additional 298 shares during the period. Finally, Ieq Capital LLC lifted its stake in shares of Prologis by 1.2% in the 2nd quarter. Ieq Capital LLC now owns 31,660 shares of the real estate investment trust's stock valued at $3,556,000 after purchasing an additional 380 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.
NYSE PLD traded down $1.42 on Friday, reaching $109.51. 5,270,136 shares of the company were exchanged, compared to its average volume of 4,180,898. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The stock has a market capitalization of $101.43 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. The business's fifty day moving average price is $110.34 and its 200 day moving average price is $118.29. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.
Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. Prologis's revenue for the quarter was up 6.9% on a year-over-year basis. Analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 is presently 116.01%.
Several research firms recently commented on PLD. Mizuho dropped their price target on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Barclays lifted their price target on Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday. Scotiabank reduced their target price on Prologis from $136.00 to $134.00 and set a "sector outperform" rating for the company in a research note on Wednesday, December 4th. Finally, Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average price target of $128.67.
Check Out Our Latest Report on 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.
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