AQR Capital Management LLC Grows Stock Holdings in Prologis, Inc. $PLD

Key Points

• AQR Capital Management LLC increased its stake in Prologis, Inc. by 70.4% in Q1, owning approximately 0.07% of the company, valued at $67.98 million.
• Several other institutional investors, including Activest Wealth Management and Saudi Central Bank, have also significantly increased their positions in Prologis, with hedge funds owning 93.50% of the stock.
• Prologis has recently announced a quarterly dividend of $1.01 per share, reflecting an annualized dividend yield of 3.6%, but has a high payout ratio of 109.49%.

AQR Capital Management LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 70.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 610,404 shares of the real estate investment trust's stock after buying an additional 252,106 shares during the quarter. AQR Capital Management LLC owned about 0.07% of Prologis worth $67,981,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. REAP Financial Group LLC lifted its holdings in Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after buying an additional 84 shares during the last quarter. LaSalle St. Investment Advisors LLC raised its position in shares of Prologis by 3.7% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock worth $300,000 after acquiring an additional 96 shares in the last quarter. Van Hulzen Asset Management LLC raised its position in shares of Prologis by 5.6% during the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust's stock worth $201,000 after acquiring an additional 96 shares in the last quarter. Focus Financial Network Inc. lifted its stake in Prologis by 5.2% during the first quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock worth $234,000 after purchasing an additional 104 shares during the last quarter. Finally, Exencial Wealth Advisors LLC lifted its stake in Prologis by 5.1% during the first quarter. Exencial Wealth Advisors LLC now owns 2,210 shares of the real estate investment trust's stock worth $247,000 after purchasing an additional 107 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLD. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. UBS Group lifted their price target on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Finally, Citigroup cut their target price on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.83.

Insider Activity

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the sale, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, valued at $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company's stock.

Prologis Stock Performance

PLD stock traded up $4.11 during trading on Thursday, hitting $115.09. The company had a trading volume of 5,038,678 shares, compared to its average volume of 2,939,177. The firm has a market cap of $106.83 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 2.78 and a beta of 1.26. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.39. The firm has a 50-day moving average price of $109.03 and a 200-day moving average price of $108.10. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data 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 return on equity of 5.96% and a net margin of 40.29%.The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the firm earned $1.34 EPS. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 16th. Prologis's payout ratio is 109.49%.

About Prologis

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.