Prologis, Inc. (NYSE:PLD) is Adelante Capital Management LLC's Largest Position

Adelante Capital Management LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1,470.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,400,344 shares of the real estate investment trust's stock after buying an additional 1,311,179 shares during the quarter. Prologis comprises about 9.4% of Adelante Capital Management LLC's holdings, making the stock its largest position. Adelante Capital Management LLC owned approximately 0.15% of Prologis worth $148,017,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cohen & Steers Inc. raised its stake in shares of Prologis by 3.2% during the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after purchasing an additional 882,529 shares during the last quarter. Geode Capital Management LLC raised its position in Prologis by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after buying an additional 610,251 shares during the last quarter. FMR LLC lifted its stake in shares of Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after acquiring an additional 1,875,978 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after acquiring an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

Shares of PLD traded up $2.41 during trading hours on Friday, reaching $105.49. 4,193,710 shares of the company traded hands, compared to its average volume of 4,138,733. The stock has a market capitalization of $97.79 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The stock has a fifty day simple moving average of $107.68 and a 200 day simple moving average of $111.99. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. 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 (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion for 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%. As a group, research analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Morgan Stanley reduced their target price on Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. CJS Securities lowered their price target on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Finally, UBS Group raised their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $122.05.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm'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 sale, the executive now directly owns 7,977 shares of the company's stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.57% of the company's stock.

Prologis Company 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.