Capital International Inc. CA Buys 6,624 Shares of Prologis, Inc. (NYSE:PLD)

Capital International Inc. CA increased its stake in Prologis, Inc. (NYSE:PLD) by 24.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,825 shares of the real estate investment trust’s stock after purchasing an additional 6,624 shares during the period. Capital International Inc. CA’s holdings in Prologis were worth $4,405,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PLD. Optimum Investment Advisors bought a new position in Prologis in the first quarter valued at about $26,000. True Wealth Design LLC bought a new position in Prologis in the fourth quarter valued at about $27,000. JFS Wealth Advisors LLC grew its position in Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 168 shares during the last quarter. Clear Investment Research LLC grew its position in Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 158 shares during the last quarter. Finally, Salem Investment Counselors Inc. bought a new position in Prologis in the fourth quarter valued at about $37,000. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.9 %

PLD traded up $2.25 during trading on Friday, hitting $122.68. The company’s stock had a trading volume of 3,373,839 shares, compared to its average volume of 3,756,973. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.10 and a debt-to-equity ratio of 0.52. The stock’s fifty day moving average price is $113.37 and its 200-day moving average price is $120.02. The firm has a market capitalization of $113.58 billion, a P/E ratio of 35.87, a PEG ratio of 2.91 and a beta of 1.06.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the firm posted $1.83 earnings per share. Prologis’s quarterly revenue was down 18.1% compared to the same quarter last year. Analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s payout ratio is 112.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PLD shares. The Goldman Sachs Group lifted their target price on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird decreased their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. decreased their target price on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Mizuho reduced their price target on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Finally, Royal Bank of Canada reduced their price target on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

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.