Farringdon Capital Ltd. Takes Position in Prologis, Inc. (NYSE:PLD)

Farringdon Capital Ltd. acquired a new stake in Prologis, Inc. (NYSE:PLD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,712 shares of the real estate investment trust's stock, valued at approximately $604,000.

Other hedge funds have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis during the 4th quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new position in Prologis during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis in the fourth quarter valued at approximately $30,000. Promus Capital LLC bought a new stake in Prologis during the 4th quarter worth $34,000. Finally, Whipplewood Advisors LLC acquired a new position in Prologis in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.57% of the company's stock.

Prologis Price Performance

NYSE PLD traded up $1.93 on Wednesday, hitting $101.88. The stock had a trading volume of 1,895,334 shares, compared to its average volume of 4,133,615. The firm has a 50-day moving average of $110.59 and a 200-day moving average of $112.87. The company has a market capitalization of $94.44 billion, a price-to-earnings ratio of 25.47, 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. 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, topping analysts' consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $1.01 dividend. This is a boost from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Tuesday, March 18th. Prologis's dividend payout ratio is presently 101.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLD. BNP Paribas raised Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Mizuho cut their target price on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Royal Bank of Canada increased their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Monday, January 27th. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday. Finally, Evercore ISI decreased their price objective on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.