Prologis, Inc. (NYSE:PLD) Holdings Lifted by Ecofi Investissements SA

Ecofi Investissements SA boosted its holdings in Prologis, Inc. (NYSE:PLD) by 44.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,800 shares of the real estate investment trust’s stock after buying an additional 2,400 shares during the quarter. Prologis accounts for about 0.5% of Ecofi Investissements SA’s investment portfolio, making the stock its 29th largest position. Ecofi Investissements SA’s holdings in Prologis were worth $764,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Prologis during the 4th quarter valued at $951,263,000. Raymond James Financial Inc. bought a new position in shares of Prologis during the 4th quarter valued at $254,876,000. FMR LLC lifted its position in shares of Prologis by 11.7% in 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 during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Prologis by 83.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust’s stock worth $399,528,000 after purchasing an additional 1,723,129 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Prologis by 59.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust’s stock worth $272,642,000 after buying an additional 964,454 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on PLD. BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Mizuho decreased their target price on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. UBS Group upped their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Wolfe Research decreased their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.32.

Prologis Trading Up 1.6 %

NYSE:PLD opened at $101.89 on Friday. The firm has a market capitalization of $94.45 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The business’s 50-day moving average price is $111.44 and its two-hundred day moving average price is $113.26. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD) last released 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 business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. On average, equities analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.96%. Prologis’s payout ratio is 101.00%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.57% of the stock is owned by corporate insiders.

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.