abrdn plc Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

abrdn plc decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 21.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,534,243 shares of the real estate investment trust’s stock after selling 415,770 shares during the quarter. abrdn plc’s holdings in Prologis were worth $204,515,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Columbia Trust Co 01012016 increased its position in Prologis by 16.0% during the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after acquiring an additional 723 shares during the last quarter. Cyndeo Wealth Partners LLC increased its position in Prologis by 39.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after acquiring an additional 11,882 shares during the last quarter. DNB Asset Management AS increased its position in Prologis by 17.1% during the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after acquiring an additional 42,073 shares during the last quarter. Grassi Investment Management increased its position in Prologis by 31.8% during the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after acquiring an additional 60,900 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. increased its position in Prologis by 255.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after acquiring an additional 11,582 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PLD. Royal Bank of Canada upped their price target on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. UBS Group cut their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday. Evercore ISI cut their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday. Barclays cut their price target on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Mizuho restated a “neutral” rating and issued a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.86.

Prologis Stock Down 1.1 %

Shares of PLD stock traded down $1.20 during mid-day trading on Friday, hitting $103.49. 6,932,203 shares of the stock traded hands, compared to its average volume of 3,950,327. The stock has a market cap of $95.73 billion, a P/E ratio of 30.26, a P/E/G ratio of 2.10 and a beta of 1.00. The stock’s fifty day moving average is $127.87 and its two-hundred day moving average is $122.02. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a net margin of 38.73% and a return on equity of 5.49%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. Equities analysts predict that Prologis, Inc. will post 5.47 EPS for the current year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.71%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is presently 112.28%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.