Bridgewater Advisors Inc. Makes New Investment in Prologis, Inc. (NYSE:PLD)

Bridgewater Advisors Inc. acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,143 shares of the real estate investment trust's stock, valued at approximately $324,000.

Several other large investors have also recently added to or reduced their stakes in PLD. Murphy & Mullick Capital Management Corp bought a new position in Prologis during the 4th quarter worth $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis during the 4th quarter worth $27,000. REAP Financial Group LLC grew its holdings 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 worth $31,000 after purchasing an additional 84 shares in the last quarter. Olde Wealth Management LLC acquired a new stake in shares of Prologis during the 1st quarter worth $43,000. Finally, Cornerstone Planning Group LLC grew its holdings 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 worth $44,000 after purchasing an additional 152 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PLD shares. BMO Capital Markets reduced their price objective on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Mizuho reduced their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Robert W. Baird cut their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Finally, Morgan Stanley cut their price target on Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $120.47.

Prologis Trading Up 0.2%

Shares of PLD traded up $0.26 during mid-day trading on Friday, reaching $106.69. 4,481,494 shares of the company were exchanged, compared to its average volume of 4,652,630. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. 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 stock has a market capitalization of $99.00 billion, a PE ratio of 28.91, a PEG ratio of 2.77 and a beta of 1.23. The business has a 50 day simple moving average of $107.49 and a two-hundred day simple moving average of $109.61.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) 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 the consensus estimate of $2.03 billion. During the same period last year, the company earned $1.34 earnings per share. The firm's revenue was up 8.8% compared to the same quarter last year. On average, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were issued 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 payout ratio is currently 101.00%.

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.