10,985 Shares in Prologis, Inc. (NYSE:PLD) Bought by Crestline Management LP

Crestline Management LP purchased a new position in Prologis, Inc. (NYSE:PLD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,985 shares of the real estate investment trust's stock, valued at approximately $1,161,000.

Several other institutional investors and hedge funds have also modified their holdings of PLD. Norges Bank bought a new stake in shares of Prologis during the 4th quarter valued at $951,263,000. 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 valued at $1,464,509,000 after acquiring an additional 4,893,284 shares during the period. Capital Research Global Investors boosted its stake in shares of Prologis by 25.4% in the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after acquiring an additional 2,500,761 shares during the period. Raymond James Financial Inc. bought a new position in shares of Prologis in the fourth quarter worth about $254,876,000. Finally, FMR LLC grew its position in shares of Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Trading Up 3.2%

Prologis stock traded up $3.39 during trading hours on Monday, hitting $110.30. The company had a trading volume of 10,024,196 shares, compared to its average volume of 4,185,311. The company has a 50-day moving average price of $105.95 and a two-hundred day moving average price of $111.30. The firm has a market cap of $102.35 billion, a P/E ratio of 27.58, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. 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 (NYSE:PLD - Get Free Report) last released its quarterly 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 net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Tuesday, June 17th. Prologis's payout ratio is 101.00%.

Analyst Upgrades and Downgrades

PLD has been the subject of several research analyst reports. Barclays cut their target price on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. CJS Securities reduced their target price on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. 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, May 5th. Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Finally, BMO Capital Markets dropped their price objective 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $121.84.

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.