UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 8,545,336 Shares of Prologis, Inc. (NYSE:PLD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 534.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,143,554 shares of the real estate investment trust’s stock after buying an additional 8,545,336 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Prologis were worth $1,280,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. Swedbank AB boosted its position in shares of Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after acquiring an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after buying an additional 43,235 shares during the last quarter. Sunflower Bank N.A. acquired a new position in shares of Prologis during the third quarter valued at about $249,000. Cetera Advisors LLC lifted its stake in shares of Prologis by 118.7% in the first quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after buying an additional 20,623 shares during the period. Finally, Abundance Wealth Counselors acquired a new stake in Prologis during the second quarter worth about $973,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

NYSE PLD opened at $117.81 on Thursday. The firm has a market cap of $109.11 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 3.45 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The company has a 50 day moving average of $119.09 and a 200-day moving average of $118.61.

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). The business 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 company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 earnings per share. On average, equities analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.26%. Prologis’s dividend payout ratio (DPR) is 116.01%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent research reports. Wells Fargo & Company upped their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Evercore ISI upped their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Bank of America reissued a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, Morgan Stanley raised their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.25.

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.