Prologis, Inc. (NYSE:PLD) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC boosted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 49.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 358,298 shares of the real estate investment trust's stock after purchasing an additional 119,297 shares during the quarter. AQR Capital Management LLC's holdings in Prologis were worth $37,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis during the 4th quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis during the fourth quarter worth approximately $30,000. Promus Capital LLC purchased a new stake in Prologis in the 4th quarter worth approximately $34,000. Finally, Whipplewood Advisors LLC acquired a new position in Prologis in the 4th quarter valued at $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 0.6 %

Shares of PLD stock traded up $0.60 during mid-day trading on Wednesday, reaching $105.10. 2,972,144 shares of the company were exchanged, compared to its average volume of 4,148,859. The company has a market capitalization of $97.53 billion, a P/E ratio of 26.28, a P/E/G ratio of 2.70 and a beta of 1.25. The business's 50 day simple moving average is $106.98 and its 200 day simple moving average is $111.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share 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 firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is currently 101.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Robert W. Baird lowered their price objective on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday. Morgan Stanley decreased their target price on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. BMO Capital Markets decreased their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Mizuho dropped their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $121.68.

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.