American Assets Investment Management LLC Purchases Shares of 26,159 Prologis, Inc. (NYSE:PLD)

Key Points

• American Assets Investment Management LLC acquired 26,159 shares of Prologis, Inc., valued at approximately $2,924,000, marking a 1.2% stake in the company's investment portfolio.
• Prologis is a significant player in logistics real estate, with ownership or investment in properties totaling around 1.2 billion square feet across 19 countries.
• Recent analyst ratings for Prologis reveal a consensus "Moderate Buy" with an average target price of $120.74, despite some downward adjustments from various financial institutions.

American Assets Investment Management LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 26,159 shares of the real estate investment trust's stock, valued at approximately $2,924,000. Prologis comprises 1.2% of American Assets Investment Management LLC's investment portfolio, making the stock its 26th largest position.

A number of other hedge funds have also added to or reduced their stakes in PLD. Aviva PLC lifted its position in shares of Prologis by 36.6% during the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock worth $73,481,000 after buying an additional 186,187 shares in the last quarter. Alley Investment Management Company LLC raised its holdings in shares of Prologis by 102.8% in the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after purchasing an additional 54,914 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Prologis by 1,451.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock worth $3,486,000 after purchasing an additional 29,170 shares during the period. Truist Financial Corp raised its holdings in shares of Prologis by 9.3% in the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after purchasing an additional 25,229 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Prologis by 2.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock worth $33,249,000 after purchasing an additional 6,350 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. 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. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Robert W. Baird cut their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Truist Financial lowered their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Prologis has a consensus rating of "Moderate Buy" and an average target price of $120.74.

Prologis Trading Down 1.1%

NYSE:PLD opened at $108.53 on Thursday. The company's 50 day moving average price is $107.51 and its 200-day moving average price is $109.82. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a quick ratio of 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60. The stock has a market cap of $100.71 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 2.75 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. The business's revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.72%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio is currently 109.49%.

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.

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