Edge Capital Group LLC Cuts Position in Prologis, Inc. (NYSE:PLD)

Edge Capital Group LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLDFree Report) by 79.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,425 shares of the real estate investment trust’s stock after selling 60,036 shares during the period. Edge Capital Group LLC’s holdings in Prologis were worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Prologis in the 4th quarter worth $1,074,648,000. Envestnet Asset Management Inc. boosted its holdings in Prologis by 43.0% in the third quarter. Envestnet Asset Management Inc. now owns 2,402,293 shares of the real estate investment trust’s stock valued at $269,561,000 after purchasing an additional 721,910 shares during the last quarter. PGGM Investments boosted its holdings in Prologis by 29.2% in the fourth quarter. PGGM Investments now owns 3,169,612 shares of the real estate investment trust’s stock valued at $422,509,000 after purchasing an additional 717,172 shares during the last quarter. Schroder Investment Management Group grew its stake in Prologis by 89.8% during the 3rd quarter. Schroder Investment Management Group now owns 1,004,732 shares of the real estate investment trust’s stock valued at $112,741,000 after purchasing an additional 475,229 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in Prologis by 49.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,261,809 shares of the real estate investment trust’s stock worth $141,587,000 after purchasing an additional 415,587 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PLD. Royal Bank of Canada dropped their price target on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. JPMorgan Chase & Co. dropped their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Evercore ISI reduced their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday, April 18th. Argus decreased their price target on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

Check Out Our Latest Research Report on PLD

Prologis Stock Performance

Shares of NYSE PLD opened at $108.74 on Thursday. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a market cap of $100.68 billion, a PE ratio of 31.80, a P/E/G ratio of 2.42 and a beta of 1.07. The stock has a 50 day simple moving average of $111.36 and a 200-day simple moving average of $122.40. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.53%. Prologis’s payout ratio is 112.28%.

Prologis Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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