Marcum Wealth LLC Sells 1,132 Shares of Prologis, Inc. (NYSE:PLD)

Marcum Wealth LLC lessened its position in Prologis, Inc. (NYSE:PLD) by 17.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,330 shares of the real estate investment trust’s stock after selling 1,132 shares during the period. Marcum Wealth LLC’s holdings in Prologis were worth $563,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PLD. State Street Corp lifted its position in Prologis by 1.4% in 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 acquiring an additional 767,609 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Prologis by 0.9% in the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after purchasing an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Prologis by 4.5% during the third 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Prologis by 534.7% during the third 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 buying an additional 8,545,336 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Prologis by 12.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,237,322 shares of the real estate investment trust’s stock worth $475,894,000 after buying an additional 477,785 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 2.7 %

Shares of NYSE:PLD opened at $108.26 on Wednesday. The stock has a 50 day moving average of $110.65 and a 200 day moving average of $118.43. The company has a market cap of $100.27 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 3.27 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 has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 earnings per share. As a group, equities research analysts expect that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.55%. 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 equities analysts have issued reports on PLD shares. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $124.00 to $123.00 in a research note on Monday, January 6th. Mizuho dropped their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Truist Financial cut 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. The Goldman Sachs Group reissued 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. Finally, Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prologis 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.