Simplicity Solutions LLC Has $1.53 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Simplicity Solutions LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 10.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,511 shares of the real estate investment trust’s stock after selling 1,379 shares during the period. Simplicity Solutions LLC’s holdings in Prologis were worth $1,534,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Thompson Investment Management Inc. acquired a new stake in Prologis in the fourth quarter valued at approximately $28,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Prologis in the 3rd quarter valued at $29,000. FinTrust Capital Advisors LLC boosted its holdings in Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 232 shares in the last quarter. Fairfield Bush & CO. acquired a new position in Prologis during the second quarter worth $35,000. Finally, ST Germain D J Co. Inc. acquired a new position in Prologis during the second quarter worth $36,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PLD shares. Mizuho reiterated a “neutral” rating and set a $130.00 price target on shares of Prologis in a research note on Tuesday, April 2nd. Morgan Stanley upped their target price on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Raymond James lifted their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. Royal Bank of Canada upped their price objective on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, Robert W. Baird lifted their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.67.

Prologis Stock Down 2.7 %

NYSE PLD opened at $115.78 on Tuesday. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a market cap of $107.10 billion, a PE ratio of 35.19, a PEG ratio of 2.38 and a beta of 1.00. The firm has a 50-day simple moving average of $129.76 and a 200 day simple moving average of $122.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30.

Prologis (NYSE:PLD) last posted its quarterly earnings results 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 net margin of 38.13% and a return on equity of 5.29%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company earned $1.24 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.32%. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is currently 116.72%.

Prologis Company Profile

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.