Gateway Investment Advisers LLC Has $34.67 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Gateway Investment Advisers LLC grew its position in Prologis, Inc. (NYSE:PLD) by 69.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 328,041 shares of the real estate investment trust’s stock after purchasing an additional 133,968 shares during the period. Gateway Investment Advisers LLC’s holdings in Prologis were worth $34,674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Semmax Financial Advisors Inc. acquired a new position in Prologis in the second quarter valued at approximately $27,000. Dunhill Financial LLC grew its holdings in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the period. Sunbelt Securities Inc. raised its position in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the last quarter. Hara Capital LLC acquired a new position in shares of Prologis in the 3rd quarter valued at $48,000. Finally, Coastline Trust Co bought a new position in shares of Prologis in the 3rd quarter worth $52,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 2.9 %

PLD stock opened at $111.00 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $102.80 billion, a P/E ratio of 33.53, a P/E/G ratio of 2.85 and a beta of 1.09. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The business has a 50-day moving average of $110.53 and a 200-day moving average of $118.36.

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

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.46%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 116.01%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLD. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $120.00 to $104.00 in a report on Friday, December 6th. Truist Financial lowered their price target on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $129.06.

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.