Caisse DE Depot ET Placement DU Quebec Sells 192,761 Shares of Prologis, Inc. (NYSE:PLD)

Caisse DE Depot ET Placement DU Quebec reduced its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 46.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,512 shares of the real estate investment trust's stock after selling 192,761 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Prologis were worth $23,414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Headland Capital LLC purchased a new position in shares of Prologis in the fourth quarter worth $4,387,000. Adelante Capital Management LLC boosted its holdings in shares of Prologis by 1,470.5% during the fourth quarter. Adelante Capital Management LLC now owns 1,400,344 shares of the real estate investment trust's stock worth $148,017,000 after purchasing an additional 1,311,179 shares during the period. Utah Retirement Systems grew its stake in shares of Prologis by 0.3% in the fourth quarter. Utah Retirement Systems now owns 153,244 shares of the real estate investment trust's stock worth $16,198,000 after purchasing an additional 500 shares during the last quarter. AQR Capital Management LLC increased its holdings in Prologis by 49.9% during the 4th quarter. AQR Capital Management LLC now owns 358,298 shares of the real estate investment trust's stock valued at $37,836,000 after purchasing an additional 119,297 shares during the period. Finally, Masterton Capital Management LP raised its position in Prologis by 89.6% during the 4th quarter. Masterton Capital Management LP now owns 41,151 shares of the real estate investment trust's stock valued at $4,350,000 after purchasing an additional 19,451 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLD. Truist Financial dropped their price target on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday. Scotiabank reiterated a "sector underperform" rating and set a $97.00 price target (down previously from $133.00) on shares of Prologis in a research report on Monday, April 7th. CJS Securities lowered their price objective on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. BTIG Research reduced their price target on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Finally, BMO Capital Markets decreased their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $121.68.

Prologis Stock Performance

Shares of NYSE PLD traded up $0.60 during midday trading on Wednesday, hitting $105.10. 4,703,527 shares of the company's stock traded hands, compared to its average volume of 4,780,160. 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 stock has a market capitalization of $97.53 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The firm has a fifty day moving average of $106.98 and a 200 day moving average of $111.64. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current 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 issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.84%. This is a positive change from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis's dividend payout ratio is currently 101.00%.

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.