Fifth Third Wealth Advisors LLC Lowers Stock Position in Prologis, Inc. (NYSE:PLD)

Fifth Third Wealth Advisors LLC trimmed its stake in Prologis, Inc. (NYSE:PLD) by 28.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,747 shares of the real estate investment trust’s stock after selling 4,596 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Prologis were worth $1,242,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PLD. ASB Consultores LLC boosted its position in shares of Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares during the period. CX Institutional lifted its stake in Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 88 shares during the last quarter. DT Investment Partners LLC boosted its holdings in shares of Prologis by 9.8% in the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 93 shares during the period. Carmel Capital Partners LLC grew its position in shares of Prologis by 2.6% during the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 94 shares during the last quarter. Finally, Yoder Wealth Management Inc. increased its holdings in shares of Prologis by 4.0% in the 3rd quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $316,000 after acquiring an additional 97 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on PLD shares. Raymond James reissued an “outperform” rating and set a $125.00 price objective (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $124.00 to $123.00 in a research report on Monday, January 6th. Mizuho decreased their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $120.00 to $104.00 in a report on Friday, December 6th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.06.

Prologis Stock Down 0.1 %

PLD stock opened at $107.97 on Thursday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $110.65 and its 200 day moving average price is $118.43. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a market cap of $100.00 billion, a P/E ratio of 32.62, a P/E/G ratio of 3.27 and a beta of 1.09.

Prologis (NYSE:PLD) last announced its quarterly 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 firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the firm earned $1.30 EPS. Prologis’s revenue was up 6.9% compared to the same quarter last year. On average, research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

About Prologis

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.