Prologis, Inc. (NYSE:PLD) Shares Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. grew its position in shares of Prologis, Inc. (NYSE:PLD) by 3.5% during the fourth quarter, Holdings Channel reports. The firm owned 22,390 shares of the real estate investment trust’s stock after acquiring an additional 762 shares during the quarter. Everence Capital Management Inc.’s holdings in Prologis were worth $2,367,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Prologis by 534.7% in the 3rd 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 increased its holdings in Prologis by 145.0% in the third 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 buying an additional 2,138,693 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Prologis in the second quarter valued at $203,223,000. AMF Tjanstepension AB lifted its holdings in Prologis by 267.9% during 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 buying an additional 1,365,811 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Prologis by 326.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock worth $199,343,000 after acquiring an additional 1,358,542 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Up 0.8 %

Shares of Prologis stock traded up $0.79 during trading hours on Friday, hitting $105.05. The company’s stock had a trading volume of 579,588 shares, compared to its average volume of 2,339,421. The business has a fifty day moving average of $112.13 and a 200 day moving average of $118.58. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $97.29 billion, a PE ratio of 31.74, a P/E/G ratio of 3.27 and a beta of 1.07.

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

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Truist Financial cut their target price on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Barclays boosted their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Evercore ISI lifted their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Scotiabank lowered their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $128.88.

Prologis Company 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.