Invenomic Capital Management LP Buys Shares of 207,979 Prologis, Inc. (NYSE:PLD)

Invenomic Capital Management LP purchased a new stake in Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 207,979 shares of the real estate investment trust’s stock, valued at approximately $21,983,000. Prologis makes up 1.0% of Invenomic Capital Management LP’s holdings, making the stock its 22nd biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Prologis by 4.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 48,108 shares of the real estate investment trust’s stock valued at $5,085,000 after purchasing an additional 1,898 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Prologis by 3.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 19,706 shares of the real estate investment trust’s stock valued at $2,083,000 after buying an additional 712 shares in the last quarter. RMR Wealth Builders grew its holdings in Prologis by 22.7% during the 4th quarter. RMR Wealth Builders now owns 2,633 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 487 shares during the last quarter. Czech National Bank increased its position in Prologis by 6.5% during the fourth quarter. Czech National Bank now owns 200,813 shares of the real estate investment trust’s stock worth $21,226,000 after buying an additional 12,195 shares in the last quarter. Finally, Green Alpha Advisors LLC raised its holdings in shares of Prologis by 1.5% in the fourth quarter. Green Alpha Advisors LLC now owns 10,320 shares of the real estate investment trust’s stock worth $1,091,000 after acquiring an additional 152 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PLD shares. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. BMO Capital Markets reduced their target price on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Robert W. Baird decreased their target price on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Evercore ISI lowered their target price on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Prologis Trading Up 1.4 %

NYSE PLD opened at $106.97 on Friday. The firm has a market capitalization of $99.26 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company’s 50 day moving average price is $105.95 and its 200 day moving average price is $111.37.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. On average, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Tuesday, June 17th. Prologis’s payout ratio is 101.00%.

About Prologis

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.