Strategic Blueprint LLC Cuts Position in Prologis, Inc. (NYSE:PLD)

Strategic Blueprint LLC lessened its holdings in Prologis, Inc. (NYSE:PLD) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,930 shares of the real estate investment trust’s stock after selling 111 shares during the period. Strategic Blueprint LLC’s holdings in Prologis were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Thompson Investment Management Inc. purchased a new stake in Prologis during the 4th quarter worth approximately $28,000. DHJJ Financial Advisors Ltd. purchased a new stake in Prologis during the 3rd quarter worth approximately $29,000. FinTrust Capital Advisors LLC increased its stake in Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 232 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in Prologis during the 4th quarter worth approximately $37,000. Finally, Fairfield Bush & CO. purchased a new stake in Prologis during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 1.1 %

NYSE:PLD opened at $118.98 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. The stock’s fifty day moving average is $129.98 and its two-hundred day moving average is $122.10. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The stock has a market capitalization of $110.06 billion, a price-to-earnings ratio of 36.16, a price-to-earnings-growth ratio of 2.41 and a beta of 1.00.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a return on equity of 5.29% and a net margin of 38.13%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the company earned $1.24 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts anticipate that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.23%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is currently 116.72%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Robert W. Baird boosted their target price on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. Scotiabank boosted their target price on Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a report on Friday, December 15th. JPMorgan Chase & Co. upgraded Prologis from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $123.00 to $148.00 in a report on Monday, December 18th. Finally, Mizuho reiterated a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.67.

Prologis 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.