Prologis, Inc. (NYSE:PLD) Stock Position Decreased by Ninety One UK Ltd

Ninety One UK Ltd cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 80.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 34,353 shares of the real estate investment trust’s stock after selling 144,470 shares during the quarter. Ninety One UK Ltd’s holdings in Prologis were worth $4,579,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in shares of Prologis by 6.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after buying an additional 1,034,211 shares during the period. FMR LLC boosted its position in shares of Prologis by 1.2% in the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after buying an additional 197,693 shares during the period. Morgan Stanley boosted its position in shares of Prologis by 48.0% in the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after buying an additional 4,729,040 shares during the period. Northern Trust Corp boosted its position in Prologis by 0.7% during the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after purchasing an additional 92,036 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Prologis by 2.3% during the third quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after purchasing an additional 268,667 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Trading Down 1.7 %

Shares of PLD opened at $104.67 on Friday. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $96.82 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 2.14 and a beta of 1.00. The stock’s 50-day moving average price is $128.45 and its 200 day moving average price is $122.07.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.73% and a return on equity of 5.49%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts predict that Prologis, Inc. will post 5.47 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. Investors of record on Monday, March 18th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.67%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio is currently 112.28%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. 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 report on Wednesday, January 24th. Morgan Stanley raised their target price on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Barclays cut their target price on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday. UBS Group cut their target price on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Mizuho restated a “neutral” rating and set a $130.00 target price on shares of Prologis in a report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

Prologis Company Profile

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.