Ninepoint Partners LP Sells 293 Shares of Prologis, Inc. (NYSE:PLD)

Ninepoint Partners LP trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,905 shares of the real estate investment trust’s stock after selling 293 shares during the period. Ninepoint Partners LP’s holdings in Prologis were worth $254,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Thompson Investment Management Inc. bought a new stake in Prologis in the fourth quarter valued at approximately $28,000. FinTrust Capital Advisors LLC increased its stake 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 valued at $29,000 after purchasing an additional 232 shares in the last quarter. Fairfield Bush & CO. bought a new stake in Prologis in the second quarter valued at approximately $35,000. Qube Research & Technologies Ltd increased its stake in Prologis by 102.4% in the third quarter. Qube Research & Technologies Ltd now owns 318 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 13,518 shares in the last quarter. Finally, Salem Investment Counselors Inc. bought a new stake in Prologis in the fourth quarter valued at approximately $37,000. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PLD has been the subject of several research analyst reports. UBS Group reduced their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday. Mizuho reiterated a “neutral” rating and issued a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. Evercore ISI reduced their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, Barclays reduced their price target on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Prologis Stock Performance

Shares of PLD traded down $1.33 during trading hours on Friday, hitting $103.36. The company had a trading volume of 3,468,502 shares, compared to its average volume of 3,395,150. The firm has a market cap of $95.61 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.14 and a beta of 1.00. The business has a fifty day moving average of $128.45 and a 200-day moving average of $122.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a net margin of 38.73% and a return on equity of 5.49%. Prologis’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 earnings per share. Equities analysts anticipate that Prologis, Inc. will post 5.47 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.72%. Prologis’s dividend payout ratio is presently 112.28%.

About Prologis

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.