Prologis, Inc. (NYSE:PLD) Stock Position Decreased by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC trimmed its stake in Prologis, Inc. (NYSE:PLD) by 5.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,420 shares of the real estate investment trust’s stock after selling 135 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Prologis were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new position in Prologis in the 4th quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis in the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the fourth quarter worth approximately $30,000. REAP Financial Group LLC raised its holdings in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 84 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Prologis during the fourth quarter valued at approximately $34,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Up 1.0%

PLD stock opened at $108.91 on Monday. The firm has a market cap of $101.06 billion, a PE ratio of 27.23, a PEG ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a fifty day simple moving average of $103.68 and a 200 day simple moving average of $110.36. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. Sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.71%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Wall Street Analysts Forecast Growth

PLD has been the topic of several research analyst reports. Truist Financial lowered their price objective on shares of Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company lowered their price target on Prologis from $146.00 to $119.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. Scotiabank increased their price objective on Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research note on Monday, May 12th. CJS Securities decreased their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Finally, Morgan Stanley dropped their target price on Prologis to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $120.42.

About Prologis

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.