Adage Capital Partners GP L.L.C. Acquires 63,200 Shares of Prologis, Inc. (NYSE:PLD)

Adage Capital Partners GP L.L.C. grew its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 779,100 shares of the real estate investment trust's stock after buying an additional 63,200 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Prologis worth $82,351,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. MGO One Seven LLC raised its holdings in Prologis by 14.0% in the 4th quarter. MGO One Seven LLC now owns 12,282 shares of the real estate investment trust's stock valued at $1,298,000 after acquiring an additional 1,507 shares in the last quarter. Dark Forest Capital Management LP increased its stake in shares of Prologis by 28.6% in the 4th quarter. Dark Forest Capital Management LP now owns 4,078 shares of the real estate investment trust's stock valued at $431,000 after acquiring an additional 907 shares in the last quarter. Alta Advisers Ltd grew its position in Prologis by 16.9% in the 4th quarter. Alta Advisers Ltd now owns 3,059 shares of the real estate investment trust's stock valued at $323,000 after purchasing an additional 442 shares during the period. Nekton Capital Ltd. purchased a new position in Prologis during the 4th quarter worth $4,902,000. Finally, Fayez Sarofim & Co boosted its holdings in Prologis by 1.2% during the 4th quarter. Fayez Sarofim & Co now owns 87,946 shares of the real estate investment trust's stock worth $9,296,000 after acquiring an additional 1,047 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value 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. 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 available at this hyperlink. Corporate insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BTIG Research decreased their price target on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Baird R W upgraded shares of Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Finally, Morgan Stanley cut their target price on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.32.

Prologis Trading Down 0.7 %

Shares of Prologis stock traded down $0.71 during trading hours on Tuesday, reaching $102.61. 790,677 shares of the company's stock were exchanged, compared to its average volume of 4,131,444. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $95.11 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The company has a fifty day moving average of $109.11 and a 200-day moving average of $112.36. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.94%. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is currently 101.00%.

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.