American Assets Investment Management LLC Makes New Investment in Prologis, Inc. (NYSE:PLD)

Key Points

• American Assets Investment Management LLC has acquired a new stake in Prologis, Inc., purchasing 26,159 shares valued at approximately $2.9 million.
• Prologis recently reported earnings of $1.46 EPS, exceeding expectations, with a 40.29% net margin and revenue of $2.03 billion for the quarter.
• The company announced a quarterly dividend of $1.01 per share, representing an annualized yield of 3.8% and a payout ratio of 109.49%.

American Assets Investment Management LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 26,159 shares of the real estate investment trust's stock, valued at approximately $2,924,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. REAP Financial Group LLC raised its position in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 84 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in shares of Prologis during the 1st quarter valued at $43,000. Cornerstone Planning Group LLC raised its position in shares of Prologis by 63.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 152 shares in the last quarter. Missouri Trust & Investment Co raised its position in shares of Prologis by 59.6% during the 1st quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 149 shares in the last quarter. Finally, Bogart Wealth LLC raised its position in shares of Prologis by 56.2% during the 1st quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock valued at $47,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Price Performance

Shares of Prologis stock opened at $105.15 on Tuesday. The firm has a market cap of $97.58 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 2.63 and a beta of 1.21. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The company's fifty day simple moving average is $107.59 and its two-hundred day simple moving average is $109.78.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate 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 last year, the company posted $1.34 EPS. The company's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is currently 109.49%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Evercore ISI reduced their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, April 17th. Truist Financial reduced their target price on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Scotiabank increased their target price on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Finally, UBS Group increased their target price on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.74.

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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.