Prologis, Inc. (NYSE:PLD) Stock Position Trimmed by Hsbc Holdings PLC

Hsbc Holdings PLC cut its position in Prologis, Inc. (NYSE:PLDGet Rating) by 17.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,489,613 shares of the real estate investment trust’s stock after selling 307,413 shares during the quarter. Hsbc Holdings PLC owned about 0.20% of Prologis worth $243,194,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. American National Bank bought a new stake in shares of Prologis during the 1st quarter worth about $26,000. William Allan LLC bought a new stake in shares of Prologis during the 4th quarter worth about $27,000. M&R Capital Management Inc. raised its position in shares of Prologis by 245.1% during the 1st quarter. M&R Capital Management Inc. now owns 176 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 125 shares in the last quarter. MCF Advisors LLC bought a new stake in shares of Prologis during the 1st quarter worth about $35,000. Finally, Financial Management Professionals Inc. raised its position in shares of Prologis by 43.8% during the 1st quarter. Financial Management Professionals Inc. now owns 220 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 67 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors.

Prologis Stock Performance

PLD stock opened at $129.63 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market cap of $95.98 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.72 and a beta of 0.88. The firm has a 50 day simple moving average of $127.81 and a 200 day simple moving average of $137.30. Prologis, Inc. has a 52 week low of $106.46 and a 52 week high of $174.54.

Prologis (NYSE:PLDGet Rating) last posted its quarterly earnings results on Monday, July 18th. The real estate investment trust reported $0.82 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.30). The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.09 billion. Prologis had a return on equity of 9.85% and a net margin of 75.72%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. Research analysts anticipate that Prologis, Inc. will post 5.17 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Wednesday, September 14th. Prologis’s dividend payout ratio is currently 63.20%.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of Prologis from $174.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. Truist Financial lowered their price objective on shares of Prologis from $166.00 to $162.00 and set a “na” rating on the stock in a research note on Monday, May 16th. Barclays lowered their price objective on shares of Prologis from $190.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, July 21st. Raymond James lowered their price objective on shares of Prologis from $190.00 to $160.00 in a research note on Thursday, July 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Prologis from $160.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Buy” and an average target price of $173.38.

About Prologis

(Get Rating)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

Read More

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLDGet Rating).

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.