Bridgewater Associates LP Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Bridgewater Associates LP raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 185.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,642 shares of the real estate investment trust's stock after purchasing an additional 4,966 shares during the period. Bridgewater Associates LP's holdings in Prologis were worth $808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis during the fourth quarter valued at about $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis in the fourth quarter worth about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Prologis during the 4th quarter worth approximately $30,000. Promus Capital LLC acquired a new stake in Prologis during the fourth quarter valued at $34,000. Finally, Whipplewood Advisors LLC acquired a new position in Prologis in the 4th quarter worth about $34,000. 93.50% of the stock is currently owned by institutional investors.

Insider Activity at Prologis

In other 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 transaction of $1,305,783.78. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by corporate insiders.

Prologis Stock Down 0.7 %

PLD traded down $0.75 during midday trading on Friday, reaching $102.61. 845,490 shares of the company were exchanged, compared to its average volume of 4,139,058. The company has a market cap of $95.11 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company's fifty day moving average price is $109.86 and its 200 day moving average price is $112.68. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly 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. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. As a group, analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.94%. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis's payout ratio is presently 101.00%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PLD. Morgan Stanley reduced 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. Royal Bank of Canada upped their price target on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. Truist Financial lifted their price objective on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. Finally, Robert W. Baird raised their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Prologis presently has an average rating of "Moderate Buy" and an average target price of $123.32.

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.