North Star Investment Management Corp. Reduces Position in Prologis, Inc. (NYSE:PLD)

North Star Investment Management Corp. trimmed its position in Prologis, Inc. (NYSE:PLD) by 11.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 844 shares of the real estate investment trust’s stock after selling 110 shares during the period. North Star Investment Management Corp.’s holdings in Prologis were worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. REAP Financial Group LLC increased its stake in shares of Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 84 shares during the period. Phoenix Financial Ltd. lifted its position in Prologis by 1.0% during the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock valued at $955,000 after purchasing an additional 86 shares during the period. Black Diamond Financial LLC lifted its position in Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 93 shares during the period. CreativeOne Wealth LLC boosted its holdings in Prologis by 1.7% in the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust’s stock valued at $642,000 after purchasing an additional 100 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its stake in shares of Prologis by 22.3% during the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial decreased their price objective on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a report on Monday, May 5th. Morgan Stanley decreased their price target on Prologis to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Scotiabank raised their price objective on shares of Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research note on Monday, May 12th. Barclays cut their target price on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, Royal Bank of Canada lowered their price target on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.42.

Prologis Stock Performance

Shares of NYSE:PLD opened at $106.79 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The firm has a market capitalization of $99.09 billion, a PE ratio of 26.70, a P/E/G ratio of 2.70 and a beta of 1.25. The business’s 50 day moving average price is $104.96 and its 200-day moving average price is $109.99.

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

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid 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 3.78%. Prologis’s dividend payout ratio is presently 101.00%.

Prologis Company Profile

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.