Tower Research Capital LLC TRC Sells 16,957 Shares of Prologis, Inc. (NYSE:PLD)

Tower Research Capital LLC TRC cut its position in Prologis, Inc. (NYSE:PLD) by 27.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,491 shares of the real estate investment trust’s stock after selling 16,957 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Prologis were worth $4,808,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PLD. Norges Bank bought a new stake in shares of Prologis in the 4th quarter valued at about $951,263,000. Capital Research Global Investors grew its holdings in Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock worth $1,304,922,000 after purchasing an additional 2,500,761 shares during the period. Raymond James Financial Inc. acquired a new position in Prologis during the fourth quarter worth approximately $254,876,000. FMR LLC raised its stake in Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock valued at $1,889,747,000 after buying an additional 1,875,978 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Prologis by 83.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust’s stock valued at $399,528,000 after buying an additional 1,723,129 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is owned by insiders.

Prologis Trading Up 1.6 %

PLD opened at $101.89 on Monday. The stock has a market capitalization of $94.45 billion, a price-to-earnings ratio of 25.47, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a 50-day simple moving average of $111.44 and a 200 day simple moving average of $113.13.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.96%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Analyst Ratings Changes

PLD has been the topic of a number of recent analyst reports. Mizuho decreased their target price on Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. UBS Group upped their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Evercore ISI cut their target price on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research note on Thursday. Truist Financial upped their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Morgan Stanley cut their price objective on shares of Prologis to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.32.

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.