Values First Advisors Inc. Decreases Stock Position in Prologis, Inc. (NYSE:PLD)

Values First Advisors Inc. reduced its position in Prologis, Inc. (NYSE:PLD) by 54.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,981 shares of the real estate investment trust’s stock after selling 3,549 shares during the period. Values First Advisors Inc.’s holdings in Prologis were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PLD. Thompson Investment Management Inc. bought a new stake in Prologis in the 4th quarter worth approximately $28,000. VitalStone Financial LLC bought a new stake in Prologis in the 2nd quarter worth approximately $27,000. DHJJ Financial Advisors Ltd. bought a new stake in Prologis in the 3rd quarter worth approximately $29,000. FinTrust Capital Advisors LLC grew its position in Prologis by 966.7% in the 3rd 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 during the period. Finally, Salem Investment Counselors Inc. bought a new stake in shares of Prologis during the 4th quarter valued at $37,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE:PLD traded up $1.32 during midday trading on Thursday, hitting $130.18. The company’s stock had a trading volume of 3,676,079 shares, compared to its average volume of 3,136,057. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The business’s 50 day simple moving average is $130.56 and its 200 day simple moving average is $121.69. 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 $120.42 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 2.50 and a beta of 1.00.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. Prologis’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $1.24 earnings per share. On average, analysts forecast that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 18th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.95%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date is Friday, March 15th. Prologis’s payout ratio is 116.72%.

Wall Street Analyst Weigh In

PLD has been the subject of a number of recent research reports. Raymond James boosted their price objective 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. Scotiabank increased their target price 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. Morgan Stanley raised their price target on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Mizuho raised their price target on shares of Prologis from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Finally, Royal Bank of Canada increased their price objective on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $141.67.

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.