GHP Investment Advisors Inc. Cuts Stake in Prologis, Inc. (NYSE:PLD)

GHP Investment Advisors Inc. lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 26.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 367 shares of the real estate investment trust’s stock after selling 129 shares during the period. GHP Investment Advisors Inc.’s holdings in Prologis were worth $49,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after buying an additional 1,034,211 shares during the period. FMR LLC lifted its position in shares of Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after purchasing an additional 197,693 shares during the period. Morgan Stanley lifted its position in shares of Prologis by 48.0% in the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after purchasing an additional 4,729,040 shares during the period. Northern Trust Corp lifted its position in shares of Prologis by 0.7% in the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after purchasing an additional 92,036 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Prologis by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock worth $1,369,140,000 after purchasing an additional 268,667 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

PLD opened at $119.00 on Friday. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. 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 company has a market cap of $110.08 billion, a P/E ratio of 36.17, a price-to-earnings-growth ratio of 2.40 and a beta of 1.00. The firm’s 50-day moving average price is $129.98 and its 200-day moving average price is $122.18.

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

Prologis Increases Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Evercore ISI reiterated an “in-line” rating and issued a $136.00 price target on shares of Prologis in a research note on Monday, March 18th. JPMorgan Chase & Co. upgraded shares of Prologis from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $123.00 to $148.00 in a research note on Monday, December 18th. Raymond James increased their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. Mizuho reiterated a “neutral” rating and issued a $130.00 price target on shares of Prologis in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada increased their price target on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.67.

Prologis Company 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.