Jacobs Levy Equity Management Inc. Acquires 188,101 Shares of Prologis, Inc. (NYSE:PLD)

Jacobs Levy Equity Management Inc. grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 61.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 491,991 shares of the real estate investment trust’s stock after buying an additional 188,101 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.05% of Prologis worth $52,003,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new position in Prologis during the fourth quarter valued at approximately $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis during the fourth quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in Prologis during the fourth quarter valued at $30,000. Promus Capital LLC acquired a new position in Prologis during the fourth quarter valued at $34,000. Finally, Whipplewood Advisors LLC acquired a new position in Prologis during the fourth quarter valued at $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLD has been the subject of a number of analyst reports. Truist Financial decreased their price objective on shares of Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, May 5th. BTIG Research decreased their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Barclays reduced their price objective on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Finally, BMO Capital Markets dropped their target price on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price of $121.68.

Prologis Stock Up 1.4%

Shares of NYSE PLD opened at $106.97 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The firm has a 50-day moving average price of $105.95 and a 200 day moving average price of $111.30. The stock has a market capitalization of $99.26 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last announced its 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 analysts’ expectations of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio (DPR) 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.