Williams Jones Wealth Management LLC. Trims Stock Position in Prologis, Inc. (NYSE:PLD)

Williams Jones Wealth Management LLC. cut its stake in shares of Prologis, Inc. (NYSE:PLDGet Rating) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 153,447 shares of the real estate investment trust’s stock after selling 8,247 shares during the period. Williams Jones Wealth Management LLC.’s holdings in Prologis were worth $24,779,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Prologis by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 97,672,838 shares of the real estate investment trust’s stock worth $15,772,211,000 after buying an additional 1,814,967 shares in the last quarter. BlackRock Inc. raised its stake in shares of Prologis by 5.7% during the 4th quarter. BlackRock Inc. now owns 77,044,162 shares of the real estate investment trust’s stock worth $12,971,155,000 after buying an additional 4,127,777 shares in the last quarter. State Street Corp raised its stake in shares of Prologis by 7.7% during the 4th quarter. State Street Corp now owns 46,855,443 shares of the real estate investment trust’s stock worth $7,888,582,000 after buying an additional 3,343,792 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Prologis by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 13,702,145 shares of the real estate investment trust’s stock worth $2,300,903,000 after buying an additional 320,029 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Prologis by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 10,990,254 shares of the real estate investment trust’s stock worth $1,774,706,000 after buying an additional 231,135 shares in the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE:PLD opened at $129.63 on Friday. The business’s fifty day moving average price is $127.81 and its two-hundred day moving average price is $137.30. The stock has a market cap of $95.98 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 2.72 and a beta of 0.88. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.42 and a current ratio of 0.42. Prologis, Inc. has a one year low of $106.46 and a one year high of $174.54.

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

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders 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 of this dividend is Wednesday, September 14th. Prologis’s dividend payout ratio (DPR) is 63.20%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Prologis from $160.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. Evercore ISI set a $134.00 price target on Prologis in a report on Tuesday, July 19th. Jefferies Financial Group lowered their price target on Prologis from $174.00 to $146.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Truist Financial lowered their price target on Prologis from $166.00 to $162.00 and set a “na” rating on the stock in a report on Monday, May 16th. Finally, Raymond James lowered their price target on Prologis from $190.00 to $160.00 in a report on Thursday, July 21st. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Prologis has an average rating of “Buy” and an average price target of $173.38.

About Prologis

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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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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