First Horizon Advisors Inc. Has $53,000 Position in Prologis, Inc. (NYSE:PLD)

First Horizon Advisors Inc. cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 32.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 420 shares of the real estate investment trust’s stock after selling 199 shares during the period. First Horizon Advisors Inc.’s holdings in Prologis were worth $53,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hilton Capital Management LLC raised its stake in shares of Prologis by 56.7% during the third quarter. Hilton Capital Management LLC now owns 73,159 shares of the real estate investment trust’s stock valued at $9,239,000 after acquiring an additional 26,459 shares during the last quarter. Commerce Bank raised its position in Prologis by 41.3% during the 3rd quarter. Commerce Bank now owns 610,228 shares of the real estate investment trust’s stock worth $77,060,000 after purchasing an additional 178,498 shares during the last quarter. Strategy Asset Managers LLC lifted its holdings in Prologis by 27.7% during the 3rd quarter. Strategy Asset Managers LLC now owns 3,122 shares of the real estate investment trust’s stock worth $394,000 after buying an additional 677 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Prologis in the 3rd quarter valued at about $21,512,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Prologis in the third quarter valued at about $700,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of PLD stock opened at $115.80 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $119.75 and a two-hundred day simple moving average of $118.48. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The firm has a market capitalization of $107.25 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 3.00 and a beta of 1.08.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. Analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is 116.01%.

Analysts Set New Price Targets

A number of equities analysts recently commented on PLD shares. Barclays lifted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Wells Fargo & Company increased their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Evercore ISI upped their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.25.

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.