Ritholtz Wealth Management Sells 1,302 Shares of Prologis, Inc. (NYSE:PLD)

Ritholtz Wealth Management lessened its holdings in Prologis, Inc. (NYSE:PLD) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,169 shares of the real estate investment trust’s stock after selling 1,302 shares during the quarter. Ritholtz Wealth Management’s holdings in Prologis were worth $4,669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its position in Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after purchasing an additional 767,609 shares during the period. Geode Capital Management LLC increased its position in Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after purchasing an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. increased its position in Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after purchasing an additional 441,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in Prologis by 12.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,237,322 shares of the real estate investment trust’s stock valued at $475,894,000 after purchasing an additional 477,785 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 2.9 %

NYSE PLD opened at $111.00 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The stock’s 50-day moving average price is $110.53 and its 200-day moving average price is $118.36. The company has a market capitalization of $102.80 billion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09.

Prologis (NYSE:PLD) last announced its 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 company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 EPS. On average, equities research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 116.01%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays raised their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Truist Financial reduced their price objective on shares of Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Scotiabank reduced their price objective on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. Finally, Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $129.06.

Prologis 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.