Uniplan Investment Counsel Inc. Reduces Stake in Prologis, Inc. (NYSE:PLD)

Uniplan Investment Counsel Inc. lessened its position in shares of Prologis, Inc. (NYSE:PLD) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 215,169 shares of the real estate investment trust’s stock after selling 4,709 shares during the quarter. Prologis comprises approximately 2.1% of Uniplan Investment Counsel Inc.’s portfolio, making the stock its 13th largest position. Uniplan Investment Counsel Inc.’s holdings in Prologis were worth $22,743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empirical Asset Management LLC lifted its stake in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. grew its position in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares in the last quarter. Aviva PLC grew its holdings in Prologis by 36.6% during the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock worth $73,481,000 after acquiring an additional 186,187 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after purchasing an additional 179,880 shares in the last quarter. Finally, Allstate Corp boosted its position in shares of Prologis by 111.7% during the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock worth $7,877,000 after acquiring an additional 39,321 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. BTIG Research dropped their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Evercore ISI dropped their price objective on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research note on Thursday, April 17th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. UBS Group increased their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, BMO Capital Markets reduced their price objective on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average target price of $123.32.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.57% of the company’s stock.

Prologis Stock Down 3.3 %

Shares of Prologis stock opened at $98.68 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The firm has a market cap of $91.47 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The stock has a 50-day simple moving average of $111.02 and a 200-day simple moving average of $112.96.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Tuesday, March 18th. Prologis’s payout ratio 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.