Voya Financial Advisors Inc. Increases Holdings in Prologis, Inc. (NYSE:PLD)

Voya Financial Advisors Inc. increased its stake in Prologis, Inc. (NYSE:PLD) by 9.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,177 shares of the real estate investment trust’s stock after buying an additional 468 shares during the quarter. Voya Financial Advisors Inc.’s holdings in Prologis were worth $544,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PLD. Cohen & Steers Inc. grew its position in shares of Prologis by 3.2% during the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock valued at $2,994,557,000 after acquiring an additional 882,529 shares during the period. Geode Capital Management LLC grew its holdings in Prologis by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock valued at $2,252,853,000 after purchasing an additional 610,251 shares during the period. FMR LLC increased its position in Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after buying an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock valued at $1,754,282,000 after buying an additional 334,907 shares during the period. Finally, Capital Research Global Investors lifted its position in shares of Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock valued at $1,304,922,000 after buying an additional 2,500,761 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLD. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley lowered their price target on shares of Prologis to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Evercore ISI cut their price objective on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Scotiabank reaffirmed a “sector underperform” rating and issued a $97.00 price target (down from $133.00) on shares of Prologis in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.32.

Prologis Stock Down 1.0 %

Shares of NYSE PLD opened at $102.31 on Friday. The firm has a fifty day simple moving average of $109.48 and a two-hundred day simple moving average of $112.56. The firm has a market capitalization of $94.84 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Equities analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.95%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

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.