Bailard Inc. Raises Stake in Prologis, Inc. (NYSE:PLD)

Bailard Inc. lifted its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,183 shares of the real estate investment trust's stock after buying an additional 2,681 shares during the quarter. Bailard Inc.'s holdings in Prologis were worth $11,423,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Norges Bank bought a new position in shares of Prologis during the 4th quarter worth $951,263,000. Northern Trust Corp grew its position in shares of Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of Prologis by 282.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock worth $433,229,000 after buying an additional 2,862,183 shares in the last quarter. Capital Research Global Investors grew its position in shares of Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after buying an additional 2,500,761 shares in the last quarter. Finally, FMR LLC boosted its position in Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLD. CJS Securities dropped their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Royal Bank Of Canada dropped their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Scotiabank raised their price objective on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research report on Monday, May 12th. Truist Financial dropped their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $120.47.

Prologis Stock Up 0.2%

NYSE PLD traded up $0.26 during trading on Friday, hitting $106.69. The company's stock had a trading volume of 4,481,494 shares, compared to its average volume of 4,213,027. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.19 and a quick ratio of 0.41. The company has a market cap of $99.00 billion, a PE ratio of 28.91, a P/E/G ratio of 2.77 and a beta of 1.23. The business's 50 day simple moving average is $107.49 and its 200-day simple moving average is $109.61. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last issued its 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. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. Prologis's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 earnings per share. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.79%. Prologis's dividend payout ratio is currently 101.00%.

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.