Brooklyn Investment Group Sells 578 Shares of Prologis, Inc. (NYSE:PLD)

Brooklyn Investment Group decreased its holdings in Prologis, Inc. (NYSE:PLD) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,182 shares of the real estate investment trust’s stock after selling 578 shares during the quarter. Brooklyn Investment Group’s holdings in Prologis were worth $442,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent analyst reports. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday. Mizuho decreased their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Raymond James reaffirmed an “outperform” rating and issued a $125.00 price target (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Finally, Scotiabank decreased their price objective on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $128.67.

Prologis Trading Down 1.3 %

Shares of NYSE:PLD opened at $109.51 on Friday. The firm has a market cap of $101.43 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company’s fifty day simple moving average is $110.47 and its 200 day simple moving average is $118.31. 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 (NYSE:PLD) last released its quarterly earnings results 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). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 EPS. As a group, research analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is presently 116.01%.

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.