Brown Miller Wealth Management LLC Sells 7,706 Shares of Prologis, Inc. (NYSE:PLD)

Brown Miller Wealth Management LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 60.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,135 shares of the real estate investment trust’s stock after selling 7,706 shares during the quarter. Brown Miller Wealth Management LLC’s holdings in Prologis were worth $685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CreativeOne Wealth LLC raised its stake in shares of Prologis by 1.5% in the second quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust’s stock valued at $680,000 after acquiring an additional 82 shares during the period. SevenOneSeven Capital Management grew its stake in shares of Prologis by 2.3% during the fourth quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust’s stock valued at $427,000 after buying an additional 86 shares during the last quarter. Family Legacy Inc. raised its holdings in shares of Prologis by 0.5% in the fourth quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after buying an additional 87 shares during the period. Lockerman Financial Group Inc. lifted its stake in shares of Prologis by 2.0% during the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after acquiring an additional 87 shares during the last quarter. Finally, Hixon Zuercher LLC lifted its stake in shares of Prologis by 0.6% during the 4th quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after acquiring an additional 88 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLD shares. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, December 14th. Royal Bank of Canada raised their target price 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. Mizuho boosted their price target on Prologis from $125.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Scotiabank raised their price objective on Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a report on Friday, December 15th. Finally, Raymond James upped their price objective on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.67.

Prologis Stock Up 1.0 %

Prologis stock traded up $1.32 during midday trading on Thursday, reaching $130.18. The company’s stock had a trading volume of 3,676,079 shares, compared to its average volume of 3,136,057. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock has a market capitalization of $120.42 billion, a P/E ratio of 39.57, a PEG ratio of 2.50 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s 50-day simple moving average is $130.56 and its 200-day simple moving average is $121.69.

Prologis (NYSE:PLD) last announced 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 company 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 business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 earnings per share. On average, sell-side analysts expect that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is 116.72%.

About Prologis

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.