Franklin Resources Inc. Trims Stake in Prologis, Inc. (NYSE:PLD)

Franklin Resources Inc. trimmed its stake in Prologis, Inc. (NYSE:PLDGet Rating) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,006,458 shares of the real estate investment trust’s stock after selling 76,424 shares during the period. Franklin Resources Inc. owned 0.14% of Prologis worth $118,409,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLD. RB Capital Management LLC increased its stake in shares of Prologis by 14.7% in the 1st quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock worth $485,000 after purchasing an additional 385 shares in the last quarter. IFM Investors Pty Ltd increased its stake in Prologis by 20.7% in the 1st quarter. IFM Investors Pty Ltd now owns 114,583 shares of the real estate investment trust’s stock worth $18,503,000 after buying an additional 19,654 shares in the last quarter. Versor Investments LP purchased a new stake in Prologis in the 1st quarter worth $484,000. Shell Asset Management Co. increased its stake in Prologis by 19.0% in the 1st quarter. Shell Asset Management Co. now owns 27,409 shares of the real estate investment trust’s stock worth $4,426,000 after buying an additional 4,371 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Prologis by 1.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 989,712 shares of the real estate investment trust’s stock worth $159,819,000 after buying an additional 15,104 shares in the last quarter. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLD has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Prologis from $127.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday. Truist Financial cut their price target on Prologis from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, October 4th. BTIG Research cut their price target on Prologis from $193.00 to $152.00 and set a “buy” rating for the company in a research note on Monday, October 17th. StockNews.com assumed coverage on Prologis in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, BMO Capital Markets cut their price objective on Prologis from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, September 27th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $145.39.

Prologis Price Performance

Shares of Prologis stock opened at $115.53 on Thursday. The stock has a market cap of $106.64 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 2.59 and a beta of 0.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a 50 day moving average price of $107.96 and a 200-day moving average price of $118.93. Prologis, Inc. has a one year low of $98.03 and a one year high of $174.54.

Prologis (NYSE:PLDGet Rating) last announced its earnings results on Wednesday, October 19th. The real estate investment trust reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.31). The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Prologis had a return on equity of 10.43% and a net margin of 73.21%. Prologis’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 EPS. Equities analysts expect that Prologis, Inc. will post 5.13 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Wednesday, September 14th. Prologis’s payout ratio is currently 58.63%.

About Prologis

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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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