Dark Forest Capital Management LP Buys 27,771 Shares of Prologis, Inc. $PLD

Key Points

• Dark Forest Capital Management LP significantly increased its stake in Prologis, Inc. by 681% in the first quarter, now owning a total of 31,849 shares valued at approximately $3.56 million.
• Prologis reported earnings per share of $1.46 for the last quarter, beating estimates by $0.05, with revenues growing by 8.8% year-over-year.
• The company declared a quarterly dividend of $1.01 per share, representing an annualized payout of $4.04 and a dividend yield of 3.6%.

Dark Forest Capital Management LP increased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 681.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,849 shares of the real estate investment trust's stock after buying an additional 27,771 shares during the quarter. Dark Forest Capital Management LP's holdings in Prologis were worth $3,560,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PLD. Nuveen LLC acquired a new stake in shares of Prologis in the 1st quarter valued at approximately $1,456,768,000. Valeo Financial Advisors LLC boosted its holdings in shares of Prologis by 282.5% in the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock valued at $433,229,000 after buying an additional 2,862,183 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Prologis by 83.8% in the 4th 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 during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Prologis in the 4th quarter valued at approximately $163,970,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Prologis by 5,678.8% in the 1st quarter. SG Americas Securities LLC now owns 1,436,773 shares of the real estate investment trust's stock valued at $160,617,000 after buying an additional 1,411,910 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

PLD stock traded down $0.92 during trading hours on Monday, hitting $112.73. 542,311 shares of the stock were exchanged, compared to its average volume of 4,371,186. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $104.64 billion, a P/E ratio of 30.53, a P/E/G ratio of 2.85 and a beta of 1.26. The company has a 50-day simple moving average of $108.56 and a two-hundred day simple moving average of $108.14. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57.

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 the consensus estimate of $1.41 by $0.05. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.6%. Prologis's dividend payout ratio (DPR) is presently 109.49%.

Insiders Place Their Bets

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $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 accessible through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm's stock in a transaction 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 completion of 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. 0.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.