Prologis, Inc. (NYSE:PLD) Shares Sold by Ninety One SA PTY Ltd

Ninety One SA PTY Ltd cut its stake in Prologis, Inc. (NYSE:PLD) by 26.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,880 shares of the real estate investment trust’s stock after selling 2,427 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Prologis were worth $917,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cambridge Trust Co. increased its stake in shares of Prologis by 1.0% in the 4th quarter. Cambridge Trust Co. now owns 211,074 shares of the real estate investment trust’s stock worth $28,136,000 after acquiring an additional 2,060 shares during the last quarter. CapWealth Advisors LLC acquired a new stake in shares of Prologis in the 4th quarter worth $226,000. OLD Second National Bank of Aurora increased its stake in shares of Prologis by 1.2% in the 4th quarter. OLD Second National Bank of Aurora now owns 9,973 shares of the real estate investment trust’s stock worth $1,329,000 after acquiring an additional 118 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Prologis by 80.9% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,323 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 1,039 shares during the period. Finally, Telos Capital Management Inc. boosted its holdings in Prologis by 7.4% during the 4th quarter. Telos Capital Management Inc. now owns 7,761 shares of the real estate investment trust’s stock valued at $1,034,000 after acquiring an additional 534 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PLD shares. Barclays decreased their price objective on Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group decreased their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada lifted their price objective on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Mizuho reiterated a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Finally, Raymond James lifted their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $140.00.

Prologis Stock Performance

PLD traded down $2.00 during trading on Thursday, hitting $104.49. 3,876,513 shares of the stock were exchanged, compared to its average volume of 3,360,962. The firm has a market capitalization of $96.66 billion, a P/E ratio of 31.56, a PEG ratio of 2.29 and a beta of 1.00. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The stock has a fifty day moving average price of $128.99 and a two-hundred day moving average price of $122.19. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50.

Prologis (NYSE:PLD) last released its quarterly earnings results 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 firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $1.24 EPS. As a group, sell-side analysts predict that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.67%. Prologis’s payout ratio 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.