1832 Asset Management L.P. Has $101.70 Million Position in Prologis, Inc. (NYSE:PLD)

1832 Asset Management L.P. raised its holdings in Prologis, Inc. (NYSE:PLD) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 781,018 shares of the real estate investment trust’s stock after purchasing an additional 41,668 shares during the quarter. 1832 Asset Management L.P. owned 0.08% of Prologis worth $101,704,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Optimum Investment Advisors acquired a new stake in shares of Prologis in the 1st quarter valued at about $26,000. True Wealth Design LLC bought a new stake in shares of Prologis in the 4th quarter worth approximately $27,000. JFS Wealth Advisors LLC grew its stake in shares of Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 168 shares during the period. Clear Investment Research LLC raised its position in shares of 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 purchasing an additional 158 shares during the period. Finally, Private Wealth Management Group LLC bought a new stake in shares of Prologis in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 1.9 %

Prologis stock traded up $2.25 during midday trading on Friday, reaching $122.68. The company’s stock had a trading volume of 3,374,108 shares, compared to its average volume of 3,615,018. The stock’s 50-day simple moving average is $113.37 and its 200-day simple moving average is $119.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.10 and a quick ratio of 0.29. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock has a market capitalization of $113.58 billion, a P/E ratio of 35.87, a PEG ratio of 2.85 and a beta of 1.06.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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). The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 earnings per share. On average, sell-side analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.13%. The ex-dividend date was Monday, June 17th. Prologis’s payout ratio is currently 112.28%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PLD shares. Evercore ISI raised their target price on shares of Prologis from $119.00 to $123.00 and gave the company an “in-line” rating in a research note on Thursday, July 18th. Scotiabank lowered their price target on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Royal Bank of Canada lowered their price target on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. Finally, The Goldman Sachs Group raised their target price on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.