Centersquare Investment Management LLC Purchases 317,267 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Centersquare Investment Management LLC increased its stake in Prologis, Inc. by acquiring 317,267 shares, raising its total holdings to 6,708,300 shares, making Prologis its second-largest investment.
• Several analysts provided mixed reviews of Prologis, with price targets ranging from $100.00 to $120.00 and ratings classified as "hold," "buy," and "strong buy," reflecting varying degrees of market sentiment.
• Prologis announced a quarterly dividend of $1.01 per share, resulting in an annualized dividend yield of 3.8%, although the company's payout ratio stands at a high 109.49%.

Centersquare Investment Management LLC boosted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,708,300 shares of the real estate investment trust's stock after acquiring an additional 317,267 shares during the quarter. Prologis accounts for about 7.8% of Centersquare Investment Management LLC's holdings, making the stock its 2nd biggest holding. Centersquare Investment Management LLC owned 0.72% of Prologis worth $749,921,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. REAP Financial Group LLC raised its holdings in Prologis by 40.0% during the fourth 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. Phoenix Financial Ltd. increased its holdings in shares of Prologis by 1.0% in the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after acquiring an additional 86 shares during the period. CreativeOne Wealth LLC raised its position in Prologis by 1.7% in the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock valued at $642,000 after purchasing an additional 100 shares during the last quarter. Focus Financial Network Inc. raised its position in Prologis by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock valued at $234,000 after purchasing an additional 104 shares during the last quarter. Finally, Cary Street Partners Financial LLC raised its position in Prologis by 11.8% in the 1st quarter. Cary Street Partners Financial LLC now owns 1,042 shares of the real estate investment trust's stock valued at $117,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Mizuho reduced their price target on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Scotiabank lifted their price objective on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research report on Monday, May 12th. Morgan Stanley lowered their price objective on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, UBS Group lifted their price objective on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and an average target price of $120.74.

Prologis Price Performance

Shares of NYSE PLD opened at $107.01 on Wednesday. The firm has a market capitalization of $99.31 billion, a P/E ratio of 29.00, a PEG ratio of 2.64 and a beta of 1.21. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company's fifty day moving average is $107.59 and its two-hundred day moving average is $109.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The business's revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 EPS. Analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 17th. 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.

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