Intech Investment Management LLC Has $1.19 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Intech Investment Management LLC decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 50.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,436 shares of the real estate investment trust’s stock after selling 9,753 shares during the period. Intech Investment Management LLC’s holdings in Prologis were worth $1,192,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Prologis by 9.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 197,854 shares of the real estate investment trust’s stock worth $24,985,000 after purchasing an additional 16,310 shares in the last quarter. King Luther Capital Management Corp raised its position in Prologis by 165.3% in the 3rd quarter. King Luther Capital Management Corp now owns 58,895 shares of the real estate investment trust’s stock worth $7,437,000 after purchasing an additional 36,693 shares during the last quarter. Cornerstone Advisors LLC lifted its holdings in Prologis by 263.6% during the 3rd quarter. Cornerstone Advisors LLC now owns 8,000 shares of the real estate investment trust’s stock worth $1,010,000 after buying an additional 5,800 shares in the last quarter. Moors & Cabot Inc. increased its stake in shares of Prologis by 6.0% in the 3rd quarter. Moors & Cabot Inc. now owns 2,096 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 119 shares during the period. Finally, Hilton Capital Management LLC raised its position in shares of Prologis by 56.7% during the third quarter. Hilton Capital Management LLC now owns 73,159 shares of the real estate investment trust’s stock worth $9,239,000 after acquiring an additional 26,459 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 1.6 %

Prologis stock opened at $116.16 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The company has a fifty day simple moving average of $119.27 and a 200 day simple moving average of $118.61. The company has a market cap of $107.58 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 3.05 and a beta of 1.08.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the firm posted $1.30 EPS. Prologis’s revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is presently 116.01%.

Analyst Ratings Changes

Several research firms recently issued reports on PLD. Scotiabank decreased their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. Morgan Stanley raised their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. dropped their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Bank of America restated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Finally, Barclays boosted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis 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.