Ninety One SA PTY Ltd Sells 2,427 Shares of Prologis, Inc. (NYSE:PLD)

Ninety One SA PTY Ltd decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 26.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,880 shares of the real estate investment trust’s stock after selling 2,427 shares during the period. Ninety One SA PTY Ltd’s holdings in Prologis were worth $917,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. RB Capital Management LLC raised its stake in Prologis by 14.7% during the 1st quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock worth $485,000 after acquiring an additional 385 shares during the period. Blair William & Co. IL raised its stake in Prologis by 5.3% during the 1st quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock worth $3,490,000 after acquiring an additional 1,092 shares during the period. Sequoia Financial Advisors LLC raised its stake in Prologis by 87.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock worth $546,000 after acquiring an additional 1,580 shares during the period. Baird Financial Group Inc. raised its stake in Prologis by 41.8% during the 1st quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock worth $38,952,000 after acquiring an additional 71,112 shares during the period. Finally, Zions Bancorporation N.A. raised its stake in Prologis by 38.8% during the 1st quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock worth $336,000 after acquiring an additional 581 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock traded down $2.00 on Thursday, reaching $104.49. The company’s stock had a trading volume of 3,876,513 shares, compared to its average volume of 3,360,962. The stock’s fifty day simple moving average is $128.99 and its 200-day simple moving average is $122.19. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $96.66 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.00.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the business posted $1.24 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts forecast that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 of this dividend was Friday, March 15th. Prologis’s payout ratio is presently 116.72%.

Wall Street Analyst Weigh In

A number of research firms have commented on PLD. Mizuho restated a “neutral” rating and set a $130.00 target price on shares of Prologis in a research note on Tuesday, April 2nd. Evercore ISI reduced their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday. Royal Bank of Canada lifted their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Robert W. Baird lifted their price objective on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. Finally, UBS Group reduced their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday. Four 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

About Prologis

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.