Mufg Securities Americas Inc. Makes New Investment in Prologis, Inc. (NYSE:PLD)

Mufg Securities Americas Inc. bought a new position in shares of Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,672 shares of the real estate investment trust’s stock, valued at approximately $1,445,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Prologis in the 4th quarter valued at $951,263,000. Northern Trust Corp increased its position in shares of Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock worth $1,464,509,000 after purchasing an additional 4,893,284 shares during the period. Capital Research Global Investors raised its stake in Prologis by 25.4% in the fourth 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 purchasing an additional 2,500,761 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Prologis during the fourth quarter worth about $254,876,000. Finally, FMR LLC grew its stake in Prologis by 11.7% during 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 in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLD has been the subject of several analyst reports. Royal Bank of Canada dropped their target price on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Mizuho lowered their price objective on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Truist Financial decreased their price target on Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Barclays lowered their price target on Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, Morgan Stanley reduced their price objective on Prologis to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.84.

Prologis Trading Down 0.5%

Shares of NYSE PLD opened at $109.74 on Wednesday. The firm has a 50 day moving average price of $105.46 and a two-hundred day moving average price of $111.24. The stock has a market cap of $101.83 billion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. 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 (NYSE:PLD) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. As a group, equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.68%. Prologis’s payout ratio is 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.