SeaCrest Wealth Management LLC Lowers Holdings in Prologis, Inc. (NYSE:PLD)

SeaCrest Wealth Management LLC lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,555 shares of the real estate investment trust’s stock after selling 235 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Prologis were worth $270,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PLD. Accurate Wealth Management LLC grew its holdings in Prologis by 17.0% during the 4th quarter. Accurate Wealth Management LLC now owns 5,082 shares of the real estate investment trust’s stock valued at $527,000 after buying an additional 739 shares in the last quarter. 180 Wealth Advisors LLC boosted its position in shares of Prologis by 7.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 22,426 shares of the real estate investment trust’s stock worth $2,370,000 after acquiring an additional 1,469 shares during the last quarter. Tuttle Capital Management LLC boosted its position in shares of Prologis by 34.7% during the fourth quarter. Tuttle Capital Management LLC now owns 2,577 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 664 shares during the last quarter. Leibman Financial Services Inc. grew its stake in Prologis by 25.6% during the fourth quarter. Leibman Financial Services Inc. now owns 18,794 shares of the real estate investment trust’s stock valued at $1,987,000 after acquiring an additional 3,828 shares in the last quarter. Finally, PFW Advisors LLC bought a new stake in Prologis in the 4th quarter valued at $333,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $120.00 to $104.00 in a report on Friday, December 6th. Scotiabank cut their price target on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Barclays boosted their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $128.67.

Prologis Trading Down 1.3 %

Shares of NYSE PLD opened at $109.51 on Friday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $101.43 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. The business’s 50 day moving average price is $110.47 and its 200-day moving average price is $118.31.

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

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.51%. Prologis’s payout ratio is 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.