O Shaughnessy Asset Management LLC Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

O Shaughnessy Asset Management LLC raised its position in Prologis, Inc. (NYSE:PLD) by 36.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,817 shares of the real estate investment trust’s stock after buying an additional 19,450 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Prologis were worth $9,482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Secured Retirement Advisors LLC increased its holdings in shares of Prologis by 8.8% in the first quarter. Secured Retirement Advisors LLC now owns 7,809 shares of the real estate investment trust’s stock valued at $1,017,000 after purchasing an additional 629 shares during the period. Signature Estate & Investment Advisors LLC increased its holdings in shares of Prologis by 3.5% in the first quarter. Signature Estate & Investment Advisors LLC now owns 117,221 shares of the real estate investment trust’s stock valued at $15,264,000 after purchasing an additional 3,926 shares during the period. Alley Investment Management Company LLC grew its holdings in Prologis by 0.3% during the first quarter. Alley Investment Management Company LLC now owns 40,075 shares of the real estate investment trust’s stock worth $5,219,000 after acquiring an additional 119 shares during the period. Catalytic Wealth RIA LLC grew its holdings in Prologis by 52.1% during the first quarter. Catalytic Wealth RIA LLC now owns 4,922 shares of the real estate investment trust’s stock worth $641,000 after acquiring an additional 1,687 shares during the period. Finally, Jacobi Capital Management LLC grew its holdings in Prologis by 11.4% during the first quarter. Jacobi Capital Management LLC now owns 2,918 shares of the real estate investment trust’s stock worth $380,000 after acquiring an additional 298 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PLD shares. Scotiabank dropped their price objective on Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 16th. Evercore ISI upped their price objective on Prologis from $119.00 to $123.00 and gave the stock an “in-line” rating in a report on Thursday, July 18th. Argus upped their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group lowered their target price on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Royal Bank of Canada lowered their target price on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Five equities 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 stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.60.

Prologis Trading Down 1.3 %

NYSE PLD traded down $1.63 during trading hours on Wednesday, hitting $124.05. 2,757,620 shares of the company’s stock were exchanged, compared to its average volume of 3,752,811. The business’s 50 day moving average is $112.69 and its 200-day moving average is $120.07. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The firm has a market capitalization of $114.85 billion, a P/E ratio of 36.77, a price-to-earnings-growth ratio of 3.00 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.10.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $1.83 earnings per share. The business’s quarterly revenue was down 18.1% compared to the same quarter last year. As a group, analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.10%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Prologis 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.