Park Avenue Securities LLC Acquires 1,572 Shares of Prologis, Inc. (NYSE:PLD)

Park Avenue Securities LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 62,687 shares of the real estate investment trust’s stock after purchasing an additional 1,572 shares during the quarter. Park Avenue Securities LLC’s holdings in Prologis were worth $6,626,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Prologis by 534.7% during 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 valued at $1,280,928,000 after buying an additional 8,545,336 shares during the period. Janus Henderson Group PLC boosted its position in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after acquiring an additional 2,138,693 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Prologis during the 2nd quarter worth approximately $203,223,000. AMF Tjanstepension AB raised its position in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of Prologis by 137.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock valued at $208,518,000 after purchasing an additional 1,075,614 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays upped their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Scotiabank decreased their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company 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 dropped their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, Truist Financial dropped their price target on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.06.

Prologis Trading Down 0.1 %

Prologis stock opened at $107.97 on Thursday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The business’s fifty day moving average is $110.65 and its 200 day moving average is $118.43. The stock has a market capitalization of $100.00 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last announced its quarterly earnings results 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the business earned $1.30 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 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.