Ninety One UK Ltd Decreases Position in Prologis, Inc. (NYSE:PLD)

Ninety One UK Ltd decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 80.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Columbia Trust Co 01012016 increased its position in Prologis by 16.0% during the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after buying an additional 723 shares during the period. Cyndeo Wealth Partners LLC increased its position in Prologis by 39.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock worth $5,599,000 after buying an additional 11,882 shares during the period. DNB Asset Management AS increased its position in Prologis by 17.1% during the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after buying an additional 42,073 shares during the period. Grassi Investment Management increased its position in Prologis by 31.8% during the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after buying an additional 60,900 shares during the period. Finally, Desjardins Global Asset Management Inc. increased its position in Prologis by 255.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after buying an additional 11,582 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 1.7 %

PLD opened at $104.67 on Friday. The business’s fifty day moving average is $128.45 and its two-hundred day moving average is $122.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. The company has a market cap of $96.82 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 2.14 and a beta of 1.00. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a return on equity of 5.49% and a net margin of 38.73%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 earnings per share. Analysts anticipate that Prologis, Inc. will post 5.47 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is currently 112.28%.

Analyst Upgrades and Downgrades

Several research analysts have commented on PLD shares. Robert W. Baird lifted their price target on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada boosted their target price on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Barclays dropped their target price on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday. Raymond James boosted their target price on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley boosted 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. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.00.

Prologis 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.