MML Investors Services LLC Reduces Holdings in Prologis, Inc. (NYSE:PLD)

MML Investors Services LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,736 shares of the real estate investment trust’s stock after selling 173 shares during the quarter. MML Investors Services LLC’s holdings in Prologis were worth $30,731,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis in the 4th quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the fourth quarter valued at about $30,000. Whipplewood Advisors LLC acquired a new position in shares of Prologis during the fourth quarter worth about $34,000. Finally, Promus Capital LLC purchased a new position in Prologis during the fourth quarter worth about $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $101.89 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The business’s fifty day moving average price is $111.44 and its two-hundred day moving average price is $113.13. The stock has a market cap of $94.45 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.96%. Prologis’s payout ratio is 101.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLD. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Royal Bank of Canada lifted their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Wolfe Research reduced their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Truist Financial upped their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average price target of $123.32.

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.