Assetmark Inc. Purchases 10,130 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Assetmark Inc. increased its stake in Prologis, Inc. by 17.7%, owning 67,469 shares valued at approximately $7.54 million as of the latest SEC filing.
• Several institutional investors have also boosted their holdings in Prologis, with Northern Trust Corp raising its stake by a significant 54.6% during the fourth quarter.
• Prologis announced a quarterly dividend of $1.01, yielding 3.66%, while also achieving earnings per share of $1.46 for the latest quarter, surpassing analyst expectations.

Assetmark Inc. increased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 17.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,469 shares of the real estate investment trust's stock after acquiring an additional 10,130 shares during the period. Assetmark Inc.'s holdings in Prologis were worth $7,542,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Brighton Jones LLC boosted its position in Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after buying an additional 15,078 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Prologis by 9.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,346 shares of the real estate investment trust's stock valued at $142,000 after buying an additional 113 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Prologis by 83.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock valued at $399,528,000 after buying an additional 1,723,129 shares in the last quarter. California Public Employees Retirement System boosted its position in Prologis by 16.5% in the fourth quarter. California Public Employees Retirement System now owns 2,802,310 shares of the real estate investment trust's stock valued at $296,204,000 after buying an additional 397,356 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in Prologis by 59.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust's stock valued at $272,642,000 after buying an additional 964,454 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLD has been the subject of a number of research analyst reports. Royal Bank Of Canada dropped their target price 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. Barclays dropped their target price on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Mizuho dropped their target price on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Finally, Morgan Stanley dropped their target price on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $120.74.

Prologis Price Performance

Shares of NYSE PLD traded down $0.61 during trading hours on Thursday, hitting $107.88. 956,818 shares of the stock were exchanged, compared to its average volume of 4,590,547. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19. The company has a market cap of $100.10 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 2.75 and a beta of 1.23. The company's fifty day simple moving average is $107.51 and its two-hundred day simple moving average is $109.82. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57.

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 (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm's revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 EPS. On average, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is presently 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.