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Alberta Investment Management Corp Takes Position in Prologis, Inc. (NYSE:PLD)

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Key Points

  • Alberta Investment Management Corp invested $5.42 million in Prologis, Inc., acquiring 48,485 shares of the real estate investment trust.
  • Prologis reported $1.46 earnings per share for the quarter, exceeding analysts' expectations of $1.41, with revenue reaching $2.03 billion.
  • The company declared a quarterly dividend of $1.01 per share, reflecting an annualized dividend yield of 3.9% and a payout ratio of 109.49%.
  • Five stocks to consider instead of Prologis.

Alberta Investment Management Corp acquired a new stake in Prologis, Inc. (NYSE:PLD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 48,485 shares of the real estate investment trust's stock, valued at approximately $5,420,000.

Other hedge funds have also recently added to or reduced their stakes in the company. REAP Financial Group LLC lifted its position in Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 84 shares during the period. Olde Wealth Management LLC acquired a new stake in Prologis in the first quarter valued at about $43,000. Cornerstone Planning Group LLC lifted its position in Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 152 shares during the period. Missouri Trust & Investment Co lifted its position in Prologis by 59.6% in the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 149 shares during the period. Finally, Bogart Wealth LLC lifted its position in Prologis by 56.2% in the first quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Down 1.7%

Prologis stock traded down $1.86 during trading on Friday, reaching $104.92. 6,122,816 shares of the company's stock were exchanged, compared to its average volume of 4,686,173. The company's 50-day moving average is $107.57 and its two-hundred day moving average is $109.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The firm has a market cap of $97.37 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.63 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the company earned $1.34 EPS. The firm's revenue was up 8.8% on a year-over-year basis. On average, analysts predict 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 was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were issued a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.9%. Prologis's payout ratio is currently 109.49%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. CJS Securities reduced their price objective on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Evercore ISI reduced their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research report on Thursday, April 17th. BMO Capital Markets reduced their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Citigroup reduced their price target on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Barclays reduced their price target on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Prologis has a consensus rating of "Moderate Buy" and an average price target of $120.74.

Read Our Latest Stock Report on Prologis

Prologis Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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