CCM Investment Advisers LLC Sells 12,707 Shares of Prologis, Inc. (NYSE:PLD)

CCM Investment Advisers LLC reduced its stake in Prologis, Inc. (NYSE:PLD) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,361 shares of the real estate investment trust’s stock after selling 12,707 shares during the period. CCM Investment Advisers LLC’s holdings in Prologis were worth $6,592,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in Prologis by 1.4% during the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after buying an additional 767,609 shares during the last quarter. Geode Capital Management LLC boosted its stake in Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after purchasing an additional 194,472 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Prologis by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after purchasing an additional 317,815 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after purchasing an additional 441,841 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $124.00 to $123.00 in a research report on Monday. Mizuho decreased their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday. Scotiabank lowered their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, Raymond James restated an “outperform” rating and set a $125.00 price objective (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $129.06.

Prologis Price Performance

PLD stock traded down $1.77 during mid-day trading on Friday, hitting $103.73. The company had a trading volume of 1,223,724 shares, compared to its average volume of 3,628,136. The company has a market capitalization of $96.07 billion, a price-to-earnings ratio of 31.34, a P/E/G ratio of 3.27 and a beta of 1.09. The company has a 50-day moving average price of $111.13 and a 200 day moving average price of $118.44. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion during 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 business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 EPS. On average, research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.70%. Prologis’s dividend payout ratio is currently 116.01%.

About Prologis

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.