Prologis, Inc. (NYSE:PLD) Shares Sold by Archer Investment Corp

Archer Investment Corp cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,817 shares of the real estate investment trust’s stock after selling 166 shares during the period. Prologis comprises approximately 2.1% of Archer Investment Corp’s investment portfolio, making the stock its 7th biggest position. Archer Investment Corp’s holdings in Prologis were worth $6,641,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thompson Investment Management Inc. acquired a new stake in Prologis in the fourth quarter valued at $28,000. DHJJ Financial Advisors Ltd. acquired a new stake in Prologis in the third quarter valued at $29,000. FinTrust Capital Advisors LLC increased its holdings 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 during the period. Salem Investment Counselors Inc. bought a new stake in Prologis during the fourth quarter valued at $37,000. Finally, Fairfield Bush & CO. bought a new stake in Prologis during the second quarter valued at $35,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 7.8 %

Shares of PLD traded down $8.92 on Wednesday, reaching $105.82. The company’s stock had a trading volume of 8,002,147 shares, compared to its average volume of 3,305,441. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a market capitalization of $97.89 billion, a PE ratio of 32.69, a PEG ratio of 2.31 and a beta of 1.00. The firm has a fifty day moving average of $129.44 and a 200-day moving average of $122.30.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). The firm 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%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS. Equities analysts predict that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.63%. Prologis’s dividend payout ratio (DPR) is 116.72%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Raymond James upped their price target 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. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. 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 report on Friday, February 16th. Barclays cut their price objective on shares of Prologis from $153.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Finally, Morgan Stanley increased their price objective on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.