CCM Investment Advisers LLC Sells 12,707 Shares of Prologis, Inc. (NYSE:PLD)

CCM Investment Advisers LLC decreased its holdings in Prologis, Inc. (NYSE:PLD) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,361 shares of the real estate investment trust’s stock after selling 12,707 shares during the period. CCM Investment Advisers LLC’s holdings in Prologis were worth $6,592,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Semmax Financial Advisors Inc. purchased a new position in Prologis in the 2nd quarter worth about $27,000. Sunbelt Securities Inc. grew its stake in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares in the last quarter. Dunhill Financial LLC increased its stake in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the period. Hara Capital LLC bought a new stake in shares of Prologis in the 3rd quarter valued at about $48,000. Finally, Coastline Trust Co purchased a new position in Prologis during the third quarter valued at approximately $52,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

NYSE:PLD traded down $1.77 during mid-day trading on Friday, hitting $103.73. The company’s stock had a trading volume of 1,223,724 shares, compared to its average volume of 3,628,136. The business’s fifty day moving average is $111.13 and its two-hundred day moving average is $118.44. The stock has a market cap of $96.07 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 3.27 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 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 company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the business earned $1.30 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is currently 116.01%.

Analyst Ratings Changes

A number of analysts have weighed in on PLD shares. Scotiabank lowered their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. Mizuho cut their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday. Evercore ISI lifted their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Truist Financial decreased their target price 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.06.

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.