RMR Wealth Builders Trims Stock Position in Prologis, Inc. (NYSE:PLD)

RMR Wealth Builders lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 29.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,051 shares of the real estate investment trust’s stock after selling 836 shares during the period. RMR Wealth Builders’ holdings in Prologis were worth $273,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Thompson Investment Management Inc. acquired a new stake in shares of Prologis during the 4th quarter valued at about $28,000. Salem Investment Counselors Inc. acquired a new stake in shares of Prologis during the 4th quarter valued at about $37,000. FNY Investment Advisers LLC acquired a new stake in shares of Prologis during the 4th quarter valued at about $39,000. Webster Bank N. A. grew its position in shares of Prologis by 3,600.0% during the 4th quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 324 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Prologis during the 4th quarter valued at about $45,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PLD shares. Raymond James lifted their price objective on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. Mizuho reiterated a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a report on Tuesday, April 2nd. BMO Capital Markets cut Prologis from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. UBS Group lowered their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Barclays lowered their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Trading Down 1.7 %

Shares of PLD stock traded down $1.87 during trading on Wednesday, hitting $105.89. 2,947,728 shares of the stock traded hands, compared to its average volume of 3,559,533. The firm has a market capitalization of $98.04 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The firm’s fifty day moving average price is $121.06 and its 200-day moving average price is $121.90. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is presently 112.28%.

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.