Silverleafe Capital Partners LLC Sells 9,777 Shares of Prologis, Inc. (NYSE:PLD)

Silverleafe Capital Partners LLC cut its stake in Prologis, Inc. (NYSE:PLD) by 42.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,090 shares of the real estate investment trust’s stock after selling 9,777 shares during the period. Silverleafe Capital Partners LLC’s holdings in Prologis were worth $1,384,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PLD. Coronation Fund Managers Ltd. purchased a new stake in Prologis in the second quarter worth about $878,000. Foundations Investment Advisors LLC boosted its stake in shares of Prologis by 31.6% during the second quarter. Foundations Investment Advisors LLC now owns 3,785 shares of the real estate investment trust’s stock valued at $425,000 after purchasing an additional 908 shares in the last quarter. TD Asset Management Inc increased its holdings in Prologis by 3.8% during the second quarter. TD Asset Management Inc now owns 327,603 shares of the real estate investment trust’s stock valued at $36,793,000 after buying an additional 11,880 shares during the period. Victory Capital Management Inc. raised its stake in Prologis by 10.3% in the second quarter. Victory Capital Management Inc. now owns 786,874 shares of the real estate investment trust’s stock worth $88,374,000 after buying an additional 73,593 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its holdings in Prologis by 1.1% during the second quarter. Cullen Frost Bankers Inc. now owns 67,666 shares of the real estate investment trust’s stock worth $7,600,000 after buying an additional 718 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLD. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Truist Financial dropped their price target on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Barclays increased their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. reduced their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, Evercore ISI increased their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $129.25.

Prologis Stock Performance

PLD stock traded up $3.05 during midday trading on Monday, hitting $108.68. 1,855,921 shares of the stock traded hands, compared to its average volume of 3,141,845. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The stock’s fifty day simple moving average is $111.89 and its 200-day simple moving average is $118.66. The firm has a market cap of $100.66 billion, a P/E ratio of 32.83, a PEG ratio of 3.27 and a beta of 1.09.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS. On average, analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.53%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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.