Hutchens & Kramer Investment Management Group LLC Sells 580 Shares of Prologis, Inc. (NYSE:PLD)

Hutchens & Kramer Investment Management Group LLC cut its holdings in Prologis, Inc. (NYSE:PLDFree Report) by 19.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,454 shares of the real estate investment trust’s stock after selling 580 shares during the period. Hutchens & Kramer Investment Management Group LLC’s holdings in Prologis were worth $327,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Prologis in the fourth quarter worth about $980,759,000. Morgan Stanley raised its position in shares of Prologis by 48.0% in the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after acquiring an additional 4,729,040 shares in the last quarter. Moneta Group Investment Advisors LLC acquired a new position in Prologis in the fourth quarter valued at approximately $232,205,000. Legal & General Group Plc boosted its stake in Prologis by 22.4% during the fourth quarter. Legal & General Group Plc now owns 11,130,145 shares of the real estate investment trust’s stock worth $1,254,702,000 after acquiring an additional 2,038,187 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in Prologis in the third quarter worth approximately $185,164,000. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

Shares of NYSE:PLD opened at $127.92 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. The stock has a market cap of $118.33 billion, a PE ratio of 38.88, a PEG ratio of 2.60 and a beta of 1.00. The company’s fifty day moving average is $130.68 and its 200 day moving average is $121.81. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52.

Prologis (NYSE:PLDGet Free Report) last released its quarterly earnings data 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). Prologis had a return on equity of 5.29% and a net margin of 38.13%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the firm posted $1.24 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts anticipate that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.00%. Prologis’s dividend payout ratio (DPR) is currently 116.72%.

Wall Street Analyst Weigh In

PLD has been the topic of several recent analyst reports. Morgan Stanley raised their price objective on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Raymond James lifted their target price on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Scotiabank raised their price objective on shares of Prologis from $134.00 to $143.00 and gave the company a “sector outperform” rating in a research report on Friday, December 15th. JPMorgan Chase & Co. raised shares of Prologis from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $123.00 to $148.00 in a research note on Monday, December 18th. Finally, TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $141.67.

Check Out Our Latest Analysis on Prologis

Prologis Company Profile

(Free Report)

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.

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:PLDFree Report).

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.