AdvisorNet Financial Inc Sells 121 Shares of Prologis, Inc. (NYSE:PLD)

AdvisorNet Financial Inc reduced its position in Prologis, Inc. (NYSE:PLD) by 13.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 756 shares of the real estate investment trust’s stock after selling 121 shares during the quarter. AdvisorNet Financial Inc’s holdings in Prologis were worth $80,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PLD. Sunflower Bank N.A. purchased a new stake in Prologis in the third quarter valued at approximately $249,000. Cardano Risk Management B.V. raised its stake in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after acquiring an additional 25,266 shares in the last quarter. Coronation Fund Managers Ltd. bought a new position in shares of Prologis in the second quarter worth approximately $878,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Prologis by 2.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after purchasing an additional 29,400 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Prologis in the third quarter worth approximately $1,051,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research reports. BTIG Research dropped their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday. Raymond James reissued an “outperform” rating and issued a $125.00 target price (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Scotiabank reduced their price target 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. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $128.67.

Prologis Price Performance

Shares of NYSE PLD opened at $109.51 on Friday. The stock’s 50-day moving average is $110.34 and its two-hundred day moving average is $118.29. The company has a market cap of $101.43 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. 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 (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion for 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%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $1.30 earnings per share. Analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

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 of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 116.01%.

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.