Prologis, Inc. (NYSE:PLD) is Makena Capital Management LLC’s 10th Largest Position

Makena Capital Management LLC decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,095 shares of the real estate investment trust’s stock after selling 2,268 shares during the period. Prologis makes up approximately 3.0% of Makena Capital Management LLC’s holdings, making the stock its 10th largest position. Makena Capital Management LLC’s holdings in Prologis were worth $12,640,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ASB Consultores LLC grew its stake in shares of Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV grew its position in Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after buying an additional 87 shares during the last quarter. CX Institutional increased its stake in Prologis by 2.7% in the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 88 shares during the period. Mitchell Sinkler & Starr PA raised its position in Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 90 shares during the last quarter. Finally, Destination Wealth Management lifted its stake in shares of Prologis by 4.7% in the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 92 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. reduced their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Truist Financial lifted their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Scotiabank cut their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Finally, Wells Fargo & Company boosted their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.18.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Prologis Stock Down 0.5 %

Shares of NYSE PLD opened at $114.54 on Thursday. The firm has a market cap of $106.08 billion, a P/E ratio of 34.60, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52. The firm’s 50 day moving average price is $120.36 and its 200 day moving average price is $118.27.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the firm earned $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.35%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

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.