Ethic Inc. Raises Position in Prologis, Inc. (NYSE:PLD)

Ethic Inc. grew its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,056 shares of the real estate investment trust's stock after purchasing an additional 9,915 shares during the quarter. Ethic Inc.'s holdings in Prologis were worth $9,730,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PLD. Empirical Asset Management LLC lifted its stake in Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock valued at $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. lifted its stake in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock valued at $94,391,000 after purchasing an additional 25,266 shares during the last quarter. Aviva PLC lifted its stake in Prologis by 36.6% in the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock valued at $73,481,000 after purchasing an additional 186,187 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after purchasing an additional 179,880 shares during the last quarter. Finally, Allstate Corp lifted its stake in Prologis by 111.7% in the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after purchasing an additional 39,321 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Price Performance

PLD traded up $1.48 on Friday, reaching $106.97. The company had a trading volume of 5,505,774 shares, compared to its average volume of 4,161,857. The business has a 50 day simple moving average of $105.95 and a 200 day simple moving average of $111.30. The company has a market cap of $99.26 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 2.70 and a beta of 1.25. 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 52-week low of $85.35 and a 52-week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

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 issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's payout ratio is currently 101.00%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Morgan Stanley reduced their target price on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Finally, Scotiabank reissued a "sector underperform" rating and set a $97.00 price objective (down previously from $133.00) on shares of Prologis in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis has an average rating of "Moderate Buy" and an average price target of $121.68.

Prologis 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.